The South African owners of the five-star

Ashford Castle

in Cong, Co

Mayo

, have acquired neighbouring

Lisloughrey Lodge

from receiver

Kieran Wallace

of

KPMG

for an undisclosed sum.

Red Carnation Hotels, which is controlled by Beatrice and Stanley Tollman, closed the deal on Tuesday for the four-star, 50-bedroom property, which was put up for sale last year with a guide price of €2.5 million. KPMG had been appointed by Ulster Bank.

The Lodge was owned and developed by a consortium of investors including Paddy Kelly and targeted weddings and the family market. In previous years, it had been under the ownership of Ashford Castle.

General manager of Ashford Castle Niall Rochford said: "We plan to make this into a seamless resort, with guests of the Lodge now coming through the main gates of the Castle."

He said the Lodge would continue to target weddings and family groups with rates about 40 per cent below those of the Castle, which is currently undergoing a multi-million euro refurbishment.

Ashford Castle is expected to reopen on March 14th.