Report urges €2.5 bln debt restructuring for hotels

“Now is the time for the government to take decisive action to help improve access to equity finance and restore financial stability to the sector."

12th October, 2012
Report urges €2.5 bln debt restructuring for hotels
Tim Fenn

A report by economist Alan Ahearne proposes a restructuring scheme for Irish hotel debt to reduce what hotels say is an unsustainable level of indebtedness, estimated at €6.7 billion.

Debt restructuring of 38 per cent (€2.5 billion) will be required to bring the debt overhang to sustainable levels, the report said.

This would return hotels to a financial position where they can attract equity investment.

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