Receivership cost castle €785k in fees
The hotel emerged from receivership last year after Red Carnation Hotels paid €20m for the Co Mayo resort last May.
The deal by the international boutique hotel operator secured the 160 jobs at the resort.
The hotel is re-opening tomorrow after major refurbishment works that commenced on January 6.
Luke Charleton and David Hughes of EY were appointed as receivers and managers to the property in December 2011.
New documents lodged with the Companies Office show that €785,838 has been paid out in professional fees over the 18 month period, though no further breakdown is provided.
The secured lender, Bank of Scotland, received €16.5m from the sale, with €17 million was realised from the sale after taxes.
The property was placed into receivership by Galway businessman, Gerry Barrett. Mr Barrett bought the castle and the 365 acres overlooking Lough Corrib from a group of Irish-American investors in 2008 for €50m.
The property recorded profits of around €1.5m in its full year of receivership in 2012.
Professional fee payments of €698,261 were recorded in the six-month period covering May 29 to November 28, 2013.
A further €87,577 was paid in professional fees between November 29 to May 28, 2013.
The figures show that the business recorded trading income of €3.7m in the six months, with €2.53m paid out to trade suppliers and €1.9m paid out in wages during the same period.
The property emerged from receivership last year and during the final period the business recorded trading income of €676,736 with trade suppliers paid €933,735, with wages and salaries totalling €216,026.
Tom Barrett of estate agents, Savills, handed the sale for EY, with the sale attracting over 200 inquiries from the hotel industry.
The castle was founded almost 800 years ago and was extended over the years bya range of owners including the Guinness family. It has been trading as a hotel since 1939.
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