Where are the NAMA hotels?

Going Forward

Is the list public knowledge?

SBWife

Yes, it's on the Nama website under Security Subject to Enforcement Action. I can't link directly because you have to agree to terms to see the PDF.

paul71

Also listed in todays Irish Independant.

North_West_Art

I have just been on that link from the NAMA website and it doesn't list hotels here in Donegal that are known to be owned by NAMA, so it looks as if it hasn't been updated, which seems slack when you consider how much they are being paid

SBWife

North_West_Art wrote: »

I have just been on that link from the NAMA website and it doesn't list hotels here in Donegal that are known to be owned by NAMA, so it looks as if it hasn't been updated, which seems slack when you consider how much they are being paid

The list is properties which have enforcement actions, there are other properties where the loans have been transferred from the banks to NAMA where there is an accepted business plan in place and operating or there's not yet been an enforcement action.

donkey balls

The Carlton group have been appointed to take over the running of the NAMA hotels they took over one in my area recently.

SBWife

donkey balls wrote: »

The Carlton group have been appointed to take over the running of the NAMA hotels they took over one in my area recently.

Some of them, there are others where the associated loans are in Nama but the hotels are being operated by different managements.

paul71

SBWife wrote: »

Some of them, there are others where the associated loans are in Nama but the hotels are being operated by different managements.

Correct, The Carlton Group have taken over quite a few, I have noticed them advertising for a lot of staff, but I do know The Glenroyal in Maynooth is in the hands of one of the professional receivers firms for the moment and this is probably true of a number of others.

It would be interesting to know if The Carlton went through a tender process for this and if there are other tenders available.

beagle001

G hotel in galway has been in nama since november its common knowledge in Galway.

1huge1

While it is good to see progress on this, the pessimistic side of me can't help but worry about the carlton group having some sort of monopoly in the Irish market because of this.

I don't know much about the Irish Hotel industry and how much competition there is so hopefully I'm wrong.

SBWife

1huge1 wrote: »

While it is good to see progress on this, the pessimistic side of me can't help but worry about the carlton group having some sort of monopoly in the Irish market because of this.

I don't know much about the Irish Hotel industry and how much competition there is so hopefully I'm wrong.

Carlton run 10 4 star hotels including several run on NAMA's behalf all but one in major towns or cities where there would be AT LEAST one other 4 star property and multiple other hotels.

Cookie_Monster

paul71 wrote: »

It would be interesting to know if The Carlton went through a tender process for this and if there are other tenders available.

+1, I'd like to know the answer to this.

SBWife

Cookie_Monster wrote: »

+1, I'd like to know the answer to this.

The hotels have come under their management bit by bit (The Limerick Hotel was as early as Jan 2009 but Tyrellstown in May 2011 I think) and as far as I know Carlton have been appointed by the individual receivers. Running a tender process for each hotel would appear to me to be overkill and a waste of money. I'd prefer to see short contracts which were renewed based on performance than a bureaucratic procedure for such a low value contract.

Sponge Bob

Bank of Scotland Ireland will end up with as many hotels as NAMA will. Don't forget that NAMA only takes €20m + loans and that smaller hotel related loans will remain on the books of the original lender...Anglo in many but not all cases.

ACC have taken some over as well....they will not go to NAMA either.

1huge1

On the 31st December 2010, all of the assets and liabilities of Bank of Scotland (Ireland) Limited transferred to Bank of Scotland plc through a merger and Bank of Scotland (Ireland) Limited ceased to exist.

Halifax were badly hit by the Irish property bubble I remember reading, but I was unaware they invested so heavily in hotels.

quaalude

I thought the subject read "Where are my NAMA hotels?" - as in "Where is my NAMA?"
Although, why not - NAMA probably has enough hotels on its books to give everyone in Ireland one.

20Cent

Here is a map of NAMA properties you can probably work out the hotels from it.

http://thestory.ie/2011/07/30/nama-enforcement-properties-mapped/