Bankers roll up interest at five-star hotel

One of the country’s best-known hoteliers, Jerry O’Reilly, is confident that bankers to his five-star hotel, the Aghadoe Heights in Killarney, will continue to roll up bank interest loan payments on the business.

Accounts filed by his company, Dalegrove Taverns Ltd, which operates the Kerry hotel, confirm that since early 2009, the company’s bankers have rolled up the interest due on company borrowings.

The firm recorded a pre-tax loss of €790,779 in 2011, which followed a pre-tax loss of €780,565 in 2010. The loss takes account of non-cash depreciation costs of €448,801.