The Gleneagle Hotel Group says it withdrew a legal challenge against €50 million in State funding for the Cork events centre in order to focus on its short-term business during the COVID-19 pandemic.
The group had sought a judicial review of the funding model as it felt it was unfair and inappropriate; it also maintains the Cork centre will have a long-term impact on the INEC’s ability to attract acts and events.
The INEC brings €40 million to the Killarney economy annually and is responsible for 250,000 bed sales.
CEO of the Gleneagle Hotel Group, Killarney, Patrick O’Donoghue says the main priority is to re-employ the 500 staff laid off in recent weeks due to the pandemic.
He says the INEC has the ability to play a significant role in the recovery of Kerry’s economy but will need local or State support to do so: