The Ramada in Portrush, in Northern Ireland's County Antrim, has been put into administration by the Irish Republic's National Asset Management Agency (Nama).
Fifty full-and part-time staff at the 69-bedroom hotel, which has an annual turnover of £2.2m, were informed of the move on Thursday.
The hotel is owned by the local Kennedy family who told the BBC they had been unable to meet with Nama over the past few months to discuss issues.
Nama is an Irish government agency which took control of toxic property loans from Irish banks.
In October 2010, the construction arm of the Kennedy Group was placed into administration. A number of properties related to the business were repossessed by Nama.
In a statement on the hotel's Facebook site, owner Alistair Kennedy said the business would trade as normal.
"We have been assured that all bookings and reservations are safe," he said.
"The Kennedy family who have owned and operated the hotel for the past 11 years would like to thank all our customers and friends for the support and custom they have given us over that period of time."
Nama has not commented further on the decision.