A Kildare hotel and golf resort is to get a new lease of life following its sale by NAMA.
At Kilcock District Court on 15 April, the new owners of the Moyvalley Hotel and Golf Resort applied for an interim transfer of the licence necessary to run the resort.
They plan to have it fully operating in six months time, retain current staff and hire additional people.
The 57 acre resort, near Enfield, was bought on Thursday, 10 April, by Ballina Hotels Ltd, Judge Desmond Zaidan was told.
Following questions by the judge, one of the new directors, Rita Shah, said they paid €2.875m for the resort.
Ballina Hotel Ltd was set up on 24 February last and the hotel was sold by NAMA, to the company, whose two directors are Ms. Shaw and Oliver Brady.
The latter duo run a recycling business, Shabra Plastics and Packaging Ltd., in county Monaghan.
The Court was told the original owners spent €80m on the development.
Ms. Shah said they would be taking on all the staff and plant to employ a further 70 people over the next few years.
The golf course is a championship course and apartments at the resort are to be refurbished.
Ms. Shah, a nominee to hold the licence, said she knew a little about the hotel business from when she worked in a family business in Kenya, Africa.
The company is to employ a general manager, Patrick McFadden, a Letterkenny native, who moved to Castleblayney 26 years, the Court was told.
Mr. McFadden said he knew Ms. Shah and Mr. Brady and their successful recycling business.
He said the hotel has been operating at a low level with no management structure but they planned to have it going 24/7 in six months time. It has 52 bedrooms, 47 self catering apartments and 20 stone cottages.
He said they are putting in a new management structure.