Not all bad news as McAuliffe’s other hotel back in black

A second Xavier McAuliffe-owned Kilkenny hotel expects to record a profit in the current year.

On Friday last, the Bank of Scotland took control of Mr McAuliffe’s exclusive 137 bedroom Lyrath Estate hotel in Kilkenny by appointing a receiver on foot of an estimated bank debt of €50 million.

However, the Kerry-based self-made multi-millionaire and owner of the Spectra Group also owns the four-star Rivercourt Hotel in Kilkenny city and filings lodged with the Companies Registration Office by Gatehalf Ltd show that the hotel is projecting to make a profit in the year to the end of June.