Stake in Griffin hotels sold for €100k

Dublin-based building group Noonan Developments has sold its 34.9% share in Liam Griffin’s Griffin Group Hotels for a knockdown €100,000.

The sale — formally conducted last December — is confirmed in new accounts filed by Noonan Group Holdings Ltd.

In 2011 and 2012, the Noonan Group wrote down the value of its shares in the Griffin Group from €3.8m to €100,000. Noonan has had a long association with the Griffin Hotel Group, first joining forces to purchase the Ferrycarrig Hotel in Wexford in 1991.