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Nama to sell off hotels

Nama has put seven hotels with a value of up to €40m on the market.

The hotels are being sold as part of the agency's push to accelerate the number of properties it can get off its balance sheet before the end of this year.

The agency is believed to have appointed CBRE as agents to sell the hotels, which include the Glenroyal in Maynooth, Co Kildare and Johnstown House Hotel and Spa in Enfield, Co Meath.

The portfolio is being sold under the moniker Project Crystal. The guide price has not yet been released.