Limerick Ryan hotel to close next month

The development company that bought the Limerick Ryan hotel from Irish group Gresham Hotels earlier this year is to close the property in December.

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The move will mean the loss of about 90 jobs from the 181-bedroom hotel just three weeks before Christmas.

The four-star hotel was sold earlier this year to developer Budelli for €10.5m (£7.2m). It is understood that the company has plans to redevelop the property into apartments.

Gresham Hotels sold the Limerick Ryan after it recorded a €305,000 (£215,000) loss in the 11 months to the end of December 2002.

In July, Choice Hotels, which has been managing the hotel since the takeover, signed a two-year contract with Budelli. A spokeswoman for Choice said that this had been dissolved by "mutual consent".

by Christina Golding

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