Ashford Castle, a five-star Irish hotel made famous in the classic movie "The Quiet Man" went on the market last week for 25 million euros ($32.46 million) - half the price paid for it in 2007 by property developer Gerry Barrett.

The 13th century castle is located on 365 acres near the shores of Lough Corrib in county Mayo and was once owned by the Guinness family. It has hosted a range of dignitaries and celebrities such as Ronald Reagan and George V. Actor Pierce Brosnan held his wedding reception at the hotel in 2001.

The castle most famously featured as a backdrop in the 1952 John Ford film "The Quiet Man," starring John Wayne and Maureen O'Hara.

The Irish hotel sector was severely impacted by the downturn in the Irish economy. According to Yahoo! the castle was placed in receivership last year, but estate agents Savills have said it continues to trade successfully.

The John Wayne, Maureen O'Hara classic movie "The Quiet Man"Google Images