Fermoy hotel closes

The Grand Hotel Fermoy announced its immediate closure late on Sunday night with a brief statement posted on Facebook.
 The hotel said: "It is with heavy hearts and much reluctance that we say goodbye to The Grand Hotel. Over the past 12 years, we have had tremendous support from our amazing and loyal staff, our suppliers and our fabulous customers.
 "Thank you for the good times and even during the tough times, we have learned so much. We take great memories of Fermoy with us. It’s not how we hoped things would turn out and, despite our best efforts, we will cease trading on Sunday 10th November."
 The hotel was located on Ashe Quay in a building which was constructed in the 1870s.

Lough Erne posts loss

Lough Erne resort has recorded pre-tax losses of £685,709 (€795,840) for its most recent financial year.erne1119
New accounts show that Lough Shore Road Ltd, which operates the resort, reduced its losses by more than half, as revenues increased by 7pc to £8.37m from £7.8m. On last year's performance, the report by director Kenneth King states that the results for the period are in line with expectations, and that the trading performance is expected to improve in future periods.
 The Co Fermanagh resort recorded an operating loss of £104,987, and interest payments of £580,722 resulted in the pre-tax loss of £685,709.

Talbot Group faces 'challenges'

New figures filed by Torski Ltd, the business behind the Talbot Hotel Group and Pettitt's supermarkets, show a decline in pre-tax profit   of 1.7% to €6.24 million last year.
The company's directors say that its hotel division traded well last year, but  that "going into 2019, the hotel division faces big challenges in the form of high insurance costs, a VAT increase and Brexit."
The company's revenues dropped from €130 million to €129.97 million and the number of people employed by the firm increased from 1,026 to 1,058.

Killarney Hotels cuts losses

Pre-tax losses declined by 19% to €6 million at Killarney Hotels Ltd last year.
The group's revenues rose 29% to €22.29 million in the wake of the post-refurbishment reopening of The Dunloe Hotel.
Owned by the Liebherr family, Killarney Hotels Ltd operates both The Europe Hotel and Ard na Sidhe Hotel as well Dunloe Hotel.
The group employs 242 people.

TMR buys Tallaght hotel

A Dublin hotel, that has been shut for close to a decade, has been bought by an Austrian investor.tallaghtcross111p
TMR Hotel Collection announced today that it had acquired the 186-bedroom Tallaght Cross Hotel.
They are planning a "multi-million euro refurbishment" of the hotel and plan to open it as a four-star hotel in early 2020.
TMR Hotel Collection said the opening will create 70 jobs and it is the third hotel purchase by the group this year.


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