One of the country's most popular tourist attractions, Bunratty Castle and Folk Park in Co Clare, is set for an overhaul.
This follows a new Shannon Development report finding that one of the weaknesses of Bunratty Castle is its image, while it also suffers from a lack of on-site activities, a dependency on the US tourist market and a limited product offer.
The consultants employed by Shannon Development raise questions over the fashionability of its medieval banquets, which tourists first tasted at the 15th-century castle over 35 years ago.
The unpublished plan, Bunratty - A Development Vision, outlines a number of threats to Bunratty, including a failure to reinvest or upgrade the product, a failure to invest in marketing, inappropriate development of land around the attraction and a possible downturn in demand due to changing customer tastes.
However, the plan also points out that the Bunratty Castle and Folk Park is unique and a market leader, has an established product, enjoys a strong identity and profile and appeals to the US market.
According to Bord Fáilte, it is Ireland's fourth most popular paid-in visitor attraction, with almost 400,000 visitors a year. However, with a significant downturn in US coach business last year, Bunratty suffered an estimated 8 per cent drop in numbers in 2002.
The castle was built by the Earl of Thomond in 1425 and restored in 1954.
The regional development agency has over 130 acres of land around the castle and folk park and is proposing a new interpretative facility at the castle and new attractions, including a farm, a themed play area, riverside and hillside walks and an events space.
The company also proposes mixed developments in Bunratty village in response to research that found it is perceived to be "not a real village, [with] no sense of place and . . . poor visual quality".