British bank takes control of three Irish hotels

Bank of Scotland (Ireland) has taken control of a southern hotel chain as it hastens its departure from the market here.

Ian Kehoe - avatar

Ian Kehoe

26th May, 2012
Angela and William Savage: Bank of Scotland (Ireland) has installed receivers over three hotels owned by William Savage.

Bank of Scotland (Ireland), the British lender that finances half of the Irish hotel market, has taken control of a southern hotel chain as it hastens its departure from the market here.

The bank, which is controlled by Lloyd's in London, has installed receivers over three hotels owned by William Savage, a Cork hotelier. The bank has a €50 million exposure to the properties.

The move comes in the same week that BoSI foreclosed on...

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