Hotel in €3.6m write down

A four-star hotel business owned by one of the best known family names in the hotel industry has secured a €3.6m writedown on its bank loans.

The 18th century Fitzpatrick’s Castle Hotel in Killiney, Dublin, is owned by Eithne Scott-Lennon, whose brother, hotelier John Fitzpatrick runs two very profitable Fitzpatrick hotels in New York.

Newly filed accounts for the firm that operates the 113-bedroom Fitzpatrick Castle Hotel show that the business struck a bank deal last year that resulted in the multimillion-euro loan writedown. The firm’s banks are listed as AIB and the London-based BlueBay Asset Management LLP.