Heartbreak hotels..D4 Group, IHF and Ulster Bank?

JackRy

I'm sorry if this is the wrong forum, but the discussions on NAMA brought me here. Did anyone see the Prime Time special on hotels? If not, this article captures the nature of it:
http://www.sbpost.ie/newsfeatures/heartbreak-hotels-47639.html

It seems hypocritcal that the Irish Hotel Federation has the architect of the scheme (Ulster Bank) that is propping up the D4 Group listed as an associate on their web site (even the same man) - yet is complaining that Ulster bank is destroying the industry?

http://www.ihf.ie/associates/alphabetical2006.htm
http://www.ihf.ie/news/innsight/07-08inn/page9-12.htm

It's just business I guess :cool:

hiorta

The RBS (parent of Ulster Bank) is a notorious asset stripper - it's what they do.
Now, as Eire is in a precarious financial position, the vultures are gathering.

Idbatterim

could the larger, good location hotels not turn some or all their rooms into apts or studio apartments? they could easily let alot of the current hotel, management, admin, cooking, cleaning etc staff go and charge a flat fee for communal, washing, heating, waste disposal, maintenance facilities.

fontanalis

Wasn't it beneficial for property investors to own hotels making losses as they could offset it against rental income? I'm sure there was a relief available that was beneficial for certain people to buy hotels.