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 Dublin construction group that owns a 34.9% share in Liam Griffin’s hotel group wrote down its investment by 93% last year, “in light of prevailing market conditions”.

PRE-TAX losses at the hotel group led by hotelier Liam Griffin increased 11% last year to €1.56 million, figures show.

THE managing director of Griffin Group Hotels Liam Griffin said yesterday that the group last year turned in an “extraordinary performance” in spite of recording a €220,000 cash loss.

THE hotel group operated by former Wexford hurling All-Ireland winning manager Liam Griffin last year sustained a pre-tax loss of €349,416.