Allied Irish Banks has appointed Paul McCann of accountants Grant Thornton as receiver to  Naas Developments,  the company which controls the Osprey Hotel in Naas.

Mr McCann has in turn appointed Hotel Asset Management Services to operate the hotel, which is to remain open. It has a staff of around 150 including part time employees.

According to its most recent accounts Naas Developments had loans of more than €40m. in 2008.

The Osprey Hotel was developed on the site of the old Devoy Barracks beside the Kildare County Council offices in Naas and opened in 2004.