The directors of Carra Shore have said that the company has the necessary financial resources to complete the construction of its currently-in-development 420-bedroom hotel near Dublin Airport and eventually start trading.
Construction of the hotel was temporarily halted due to the COVID-19 pandemic.
According to The Irish Independent, the directors of Carra Shore stated in recently-signed off accounts for the 2019 financial year, "The directors acknowledge that the future viability of the company is underpinned by the timely completion of the hotel and commencement of trading activity.
"At the date of approval of the financial statements, the board of directors have received confirmation from the related parties of their intention to provide financial support to the company, if required, to ensure that the company remains in operational existence for the foreseeable future."
The directors added that while government measures to slow the spread of COVID-19 "will have a potentially significant impact on the planned commencement of trading activity", "the directors are satisfied that the company has the necessary resources to complete the construction of the hotel building and commencement of trading activity."
© 2020 Hospitality Ireland – your source for the latest industry news. Article by Dave Simpson. Click subscribe to sign up for the Hospitality Ireland print edition.