Top hotels draw interest

AS developer Bernard McNamara’s misguided Burlington hotel purchase is put back for sale at a quarter the price he paid for it only five years ago, one of his other hotels is close to a sale via a receiver.

The Cork International Airport Hotel is set to sell for around its asking price, between €4m and €5m, according to sources.

The 145-bed airport hotel went up for sale with Savills in June, guiding €4.75m, having cost a reported c €35m to develop. A Savills spokesperson would only comment that it was under very active negotiation, and had attracted 100 inquiries.