The Kingsley Hotel in Cork was sold to the Kang family for a reported €6 million. The Beijing-based family previously bought the 500-acre Fota estate in Cork for €20 million.
The Kangs, represented by spokesperson Xui Kang, plan further spending at each Cork hotel, which is likely to see the extended family with Cork business links (exports of pork and fish to China) spend at least €30million in all in the southern city, and employ up to 400.
The Kingsley sale should provide a 120-job boost to the tourism sector next year after necessary repair work to the riverside hotel is put into action.
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