The new owners of Fota Island Resort have announced their intention to invest millions of euro developing the grounds of the hotel, bringing an international golf tournament to the destination.
Speaking to the Irish Examiner, Fota Island Resort Director Michael Cronin dismissed any fears that the Kang family were trying to pick up a distressed asset and sell it quickly for profit.
“They are in this long term, they intend to keep Fota forever, It’s their baby. They have no intention of selling, it’s absolutely the jewel in the crown,” he said.
The Kang family bought Fota Island Resort earlier this summer for around €20m from Nama. The resort, which is located in Cork Harbour, was originally built by Irish developer John Flemming at a cost of over €90 million.
Mr Cronin said that there was a phenomenal amount of "untapped" potential in the number of Chinese tourists the resort can attract.
Fota Island Resort chief executive Jonathan Woods said they will be adding a destination restaurant as a priority, as planning to bring an international golf competition to Fota.
The family already have a number of hotels in China and were frequent visitors to Ireland before they decided to invest in Fota.
