Corporate recovery: Hotel sector holds out promise of recovery

It may not be easy to find buyers for distressed Irish hotels, but the Finance Bill allows hotels to qualify for Enterprise Support Schemes, writes Dave Boland.

24th February, 2013
Aiden Murphy, insolvency and restructuring partner at Crowe Horwath: 'You can find these distressed hotels across the board.'

The scramble to improve Ireland's hotel sector may have been a resounding success in terms of building capacity, but injudicious investments, coupled with the property crash, have left a legacy of unviable hotels. These are either an unfortunate testament to a brave but doomed investor community or a chilling reminder of its hubris.

Certainly, our international standing was enhanced by feverish hotel building, and where once we had chronic under-supply, at least now we have...

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