Looks like the five investors in the Portmarnock Hotel & Golf Links may have missed the bus on their plans to cash in on the success of their club on the north Dublin coastline. An Bord Pleanala has just refused planning permission for a 126-bedroom hotel, a 30-bedroom dormer house and clubhouse and a 358-space car-park on the southern side of the course, even though an old permission only ran out last May. Fingal Co Council subsequently renewed the permission, but when the issue was referred to the appeals board, the inspector was quick to point out that the council's revised development plan prohibited both a hotel and golf course.

In the meantime, the owners will have to do with the existing 103-bedroom hotel, formerly known as the Country Club, and the 18-hole course that trades well on the £75 green fees. Mark McCormack's International Management Group owns the hotel and golf links along with Tony O'Reilly, Brendan Gilmore, Michael Holland and UK-based A H Buckley.