The Competition Authority has voiced concern about the effects of banks’ ownership of hotels, but has said it is powerless to act.
The authority was responding to concerns raised by the Irish Hotels Federation and Olivia Mitchell, Fine Gael spokeswoman on arts, sport and tourism. They told the authority that the banks were keeping unviable developer owned hotels afloat and facilitating predatory pricing.
In a replying letter to Mitchell, the Competition Authority said: ‘‘Section...
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