Losses mounting at hotels group

Losses continued to mount at the group that purchased the Great Southern hotels at Dublin, Cork and Shannon airports following a writedown of €4m in 2009, figures show.

Documents filed by CG Hotels Ltd and subsidiaries to the Companies Office show the group recorded a pre-tax loss of €7.3m in 2009 following a loss of €46.9m in 2008.

The losses stem mainly from property writedowns of €4m in 2009 and €43.8m in 2008.