NAMA To Establish Dedicated Hotels Unit
Published on Jan 20 2014 2:34 PM in Hotel
The National Asset Management Agency (NAMA) is to set up a dedicated company to manage some of its hotel assets, according to national media reports over the weekend.
On Saturday the Irish Independent featured a story highlighting the NAMA's plans, saying that it comes as the agency prepares to sell a number of prime Dublin hotels in coming months.
It is believed that NAMA is seeking to ensure hotels under its control are trading at optimum levels before they are sold.
The article said that NAMA will employ a specially dedicated unit called 'National Asset Leisure Holdings' as an administrative section for some of the loans attached to hotels within its remit.
The agency originally secured loans attached to 134 hotels and 108 are still operational under its control. A further 10 have been sold, including the Morrison in Dublin.