Monday 23 October 2017

NAMA poised to take control of 60-70 hotels

Patricia McDonagh

SOME 70 hotels are expected to be transferred to NAMA, Tourism Minister Mary Hanafin revealed yesterday.

However, the minister insisted NAMA had no plans to sell the properties immediately or in "one go" in the current climate.

Already, loans involving 35 Irish-based hotels have been transferred, with NAMA expected to end up controlling between 60 and 70 hotels.

Speaking in the Dail, Ms Hanafin said she had encouraged the agency to be strategic as it worked it's away through the loans portfolio, and that NAMA has not subsidised loss-making hotels.

Irish Independent

Editor's Choice

Also in Irish News