As Brehon Capital Partners, now the proud owner of five Irish hotels, continues to expand in that sector, it has called upon the expertise of Adrian Shanagher, the former managing director of the Capital Bars group that was once owned by the O'Dwyer brothers until receivers stepped in.
Shanagher has popped up as a director of Cape Wrath Hotel, the entity Brehon is using to consummate its €30 million purchase of the sprawling Citywest complex in Dublin, which was developed by the late Jim Mansfield until it was taken over by, you guessed it, receivers.
Insolvency practitioners seem to run half the country. No chance of any of them going bust, is there?
When Capital, which ran some cavernous hostelries such as Cafe en Seine and Howl at the Moon, hit the skids, Shanagher set up his own consultancy called Firebreak.
Brehon has splurged a small fortune in recent times on Citywest, Powerscourt hotel, Killashee House, Mount Juliet and the Marker. The group has become one of Firebreak’s biggest clients.
Meanwhile, the jungle drums suggest a legal challenge by a disgruntled would-be Citywest bidder will immently come before the courts.
It’s becoming a bit like Stalingrad, that place.