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Lough Erne golf resort sold to American billionaire Tony Saliba, KPMG confirms


Lough Erne Resort hosted the G8 leaders in 2013

Lough Erne Resort hosted the G8 leaders in 2013

The G8 leaders

The G8 leaders


Lough Erne Resort hosted the G8 leaders in 2013

Fermanagh's luxury Lough Erne golf resort has been sold to American billionnaire Tony Saliba, it has been confirmed.

The Belfast Telegraph reported in August that the five-star hotel had been bought by the well-known Chicago businessman.

Now KPMG administrators Stuart Irwin and John Hansen have confirmed the sale to Lough Shore Road Ltd - a private hospitality company led by US based investor Tralee Portfolio Management, an affiliate of the Saliba Family Office.

The resort enjoyed global exposure when it hosted the G8 summit last year, but had been in administration since 2011 because of debts held by its owning company.

A statement said the sale followed a competitive bidding process "with interest from all over the world".

"The purchasers have a long and successful track record in the hospitality sector in the United States and other markets," it said.

"We are delighted that the new owners will now provide stability and continued valuable employment at the resort whilst they develop exciting future plans for Lough Erne."

Tony Saliba is a former market trader dubbed in those circles as the 'Market Wizard' and his wealthy family are believed to be major golf fans, playing to semi-pro level.

He was one of the first young traders in option selling back in the 1980s when the financial derivatives were a brand new concept. He was dubbed one of America's 'Market Wizards' in a 1987 bestseller of that name.