Treacys had €8.5m to develop Waterford’s Ard Rí Hotel

Treacy Hotels Group had €8.5 million to redevelop the Ard Rí Hotel when it offered to buy the now vacant property in 2016, the High Court heard on Wednesday.

According to an email read out in court on Wednesday, Andrew Geraghty of Cerberus’ advisors, Capita, on November 22nd 2016, told the firm that the Treacy’s representative, Bob Lanigan had confirmed that the family had “a pot of €8.5 million” available to develop the hotel.

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