Staff who began a sit-in at a popular Waterford City pub when they were given the shocking news it was closing with immediate effect have vowed to remain on the premises until they receive their entitlements.

The group that operates the Radisson hotels at the country’s three State airports booked an exceptional €42 million gain last year after restructuring its bank debt.

Exceptional costs resulted in losses at the group that operates the Gresham hotel in Dublin and the Metropole Hotel in Cork totalling over €18.5m in 2010, new figures show.

Losses continued to mount at the group that purchased the Great Southern hotels at Dublin, Cork and Shannon airports following a writedown of €4m in 2009, figures show.

THE group that purchased the Great Southern hotels at Dublin, Cork and Shannon airports four years ago has written down the value of the properties by €43.8 million due to a period of sustained losses.

A NEW international four-star hotel in Little Island is expected to create 145 new jobs and pump millions of euro into the Cork economy.