Net liabilities at the property development group of companies owned by Galway developer John Lally have increased by €66m to over €500m.

IRISH hotel operating group Choice Hotels have taken over management of the Blarney Golf Resort, which was snapped up this year by Northern Ireland-based investor Tommy O’Gorman for c€2.5m, after seeing a c€40 investment in its initial resort and hotel development.

The Irish-owned Lalco Hotel Group has made its third property acquisition in conjunction with US billionaire businessman, John Malone, via the purchase of Dublin’s five-star Westin Hotel.

Lalco Hotel Group and John Malone of Liberty Global have signed an agreement to acquire the five-star Westin Hotel in Dublin.