Irish hotel investment company iNua Hospitality is reported to be leading the race to buy businessman Bill Cullen's former venture: the Muckross Park Hotel and Spa in Killarney.
The Irish Times reports that selling agents DTZ Sherry FitzGerald has slapped at €6.5 million price tag on the hotel.
The valuation has seemingly not put off iNua, which has bought two Radisson Blu hotels in the past year, one at Little Island in Cork for €8 million and another in Limerick for €3.5 million.
Accounts filed in August 2012 showed that the former front man on TV3's The Apprentice Cullen had invested almost €10 million in the hotel before it went into recievership.
The award-winning hotel, which has 68 bedrooms and 12 self-catering apartments, and is located in the Killarney National Park, is the oldest hotel in Killarney, dating back to 1795.