Kingsley Hotel snapped up for €6m by Chinese owners of Fota Island estate

A second multi-million euro hotel swoop by Chinese buyers has been made on the flood-ravaged Kingsley Hotel in Cork City.

The Beijing-based Kang family has added the €6m Kingsley Hotel to their summer €20m purchase of the 500-acre Fota estate in East Cork, now book-ending the city east and west with five-star products.

The family, represented by spokesperson Xui Kang, plan further spending at each Cork hotel, which is likely to see the extended family with Cork business links (exports of pork and fish to China) spend at least €30m in all in the southern city, and employ up to 400.