Great Southern hotels look set to be sold

The two Great Southern hotels in the county look set to be sold by the Dublin Airport Authority. It`s reported today that the Chief Executive of the group John O Mahoney has delivered a presentation to the board outlining three potential options for the nine hotels. According to a report in today`s Irish times the three courses of action available include leaving the group intact, a sale of some of the loss making properties or full sale.In his presentation Mr O Mahoney put a 95 million euro price tag on the chain. The Torc Hotel in Killarney which was part of the group was sold for 3.8 million euro. Today`s report says there is growing support for the part sale option and the board is now to make submissions to The Departments of Transport and Finance on the matter. In 2004 the chain made a loss of 2.2 million euro.Staff at the two remaining Kerry hotels are opposed to any sale and have received the support of the minister for tourism john o Donohue. But there is growing concern among directors of the Dublin Airport Authority that the hotels could become insolvent if something is not done to stem the losses.