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Lough Erne Golf and Hotel Resort in administration

7.15am 13th May 2011 - Corporate - This story was updated on Friday, May 13th, 2011

Administrators have been appointed to the Lough Erne Resort in County Fermanagh, reports BBC News in Northern Ireland. The five star hotel and golf resort opened in October 2007 but has been in financial difficulties.

John Hansen and Stuart Irwin of KPMG have been appointed joint administrators. Mr Hansen said it was their intention to maintain “business as usual”, honouring bookings for weddings and golfing breaks.

He added that they wished to keep the “workforce intact” and the administrators have also said that they have appointed an experienced hotel operator to assist them in the ongoing management of the resort.

The administrators said it was their intention to secure future bookings for the resort and ultimately to sell it as a going concern.

The 59-bed five star hotel features an 18-hole PGA golf course designed by Nick Faldo, a restaurant and a conference centre and spa and leisure centre. It also includes 28 golf lodges leased back from investors and 30 holiday homes.

Lough Erne Resort is owned by Jim Treacy, a successful retailer. Speaking to consultancy firm BDO last year Mr Treacy said: “Things have been difficult but since we’ve opened we’ve seen a 50% increase in year-on-year revenues, up from £3.9m in 2008 to £8.5m expected in 2010. This is primarily made up of accommodation, food & beverage, spend on weddings, golf and spa. We don’t want one market or product to dominate any of our revenue streams.”

Lough Erne Resort www.lougherneresort.com

 

       

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