High-profile hotels placed in receivership

Three of the country’s best known hotels have been placed in receivership due to the debts racked up by developer Bernard McNamara.

Last night Paul McCann of Grant Thornton issued a statement which said he had been appointed receiver over “certain companies and assets in the McNamara connection”.

“Included in the assets is the Burlington Hotel [in Dublin], Cork International Airport Hotel and the Parknasilla Hotel [in Kerry],” he said. “It is my intention to continue to trade each of the hotels. Therefore it is business as usual in all hotels with no impact on the day to day operations. All staff will continue to work for the receiver and all deposits and prepayments from customers will be honoured.”