Francis Brennan has given up full ownership of the Park Hotel Kenmare.
According to the Irish Independent the Hotelier has given up part of his shareholding following a cash injection by Fergal Naughton, chief executive of manufacturing company Glen Dimplex.
Mr Brennan had 100 percent control prior to the deal since 1986.
The deal will allow Francis’ brother John to take a shareholding for the first time.
John Brennan said that the deal has protected the future of the hotel and given them the ability to reinvest in a way they wouldn’t have been able to before the deal.