Finance Minister Brian Lenihan is considering proposals from angry Irish hoteliers to stop banks from undercutting the market by keeping unviable Irish hotels operating in a desperate cash grab, the Sunday Independent has learned.
The Irish hotel sector is up in arms over the shameless cash grab by the banks, who have installed management companies to run loss-making hotels offering rock bottom prices to fill the rooms. They are also angry that many of these hotels are simply being kept open to benefit from the arrival of Nama, the State's bad bank.
Read more:
http://www.independent.ie/national-news/hoteliers-furious-over-cash-grab-by-banks-1873251.html
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