Naas hotel has jumped by €7m in value in just two years

Killashee House hotel in Co Kildare, which was bought out of examinership two years ago for €13m, has been revalued at more than €20m.

The upmarket venue, which is owned by Irish investment group Tetrarch Capital, had turnover of €10.9m last year and made an operating profit of €1.1m, new accounts show.

It also recorded a €6.8m gain from the reversal of impairment charges from previous years.

A spokesman for Tetrarch said the bedrooms at Killashee were refurbished last year as part of a "material capital investment programme".

Occupancy levels and room rates at the hotel were significantly up, he said.

Tetrarch has also invested heavily in the Mount Wolseley hotel and resort in Co Carlow, which it also acquired from examinership in 2014.

It had earnings before interest, taxes, depreciation and amortisation of more than €1m last year, the spokesman said.