Rich Irish investors burned on European hotels deal

Dozens of high-net-worth individuals who financed a boom-time Belgian and French hotel deal are nursing losses of €40 million, following the liquidation of a string of related investment firms.

Ian Kehoe - avatar

Ian Kehoe

12th January, 2014

Dozens of high-net-worth individuals who financed a boom-time Belgian and French hotel deal are nursing losses of €40 million, following the liquidation of a string of related investment firms.

*The Sunday Business Post* has established that Goodbody Stockbrokers raised €40 million to part fund the 2007 deal. Investors have been told that the investment is now effectively worthless.

The money was used to acquire a portfolio of nine hotels, including a collection of Holiday Inns, Ramada...

Subscribe from just €1 for the first month!

Exclusive offers:

All Digital Access + eReader

Trial

€1

Unlimited Access for 1 Month

Get basic

*New subscribers only

You can cancel any time.

Annual

€200

€149 For the 1st Year

Unlimited Access for 1 Year

You can cancel any time.

Quarterly

€55

€42

90 Day Pass

You can cancel any time.

2 Yearly

€315

€248

Unlimited Access for 2 Years

You can cancel any time.

Team Pass

Get a Business Account for you and your team

Share this post

Related Stories

The year in review

Legacy Richie Oakley 11 months ago

Newsround: What Thursday’s papers say

Legacy Leanna Byrne 5 years ago

More cycle routes, expansion of Luas to Bray and new bus network proposed

Legacy Digital Desk 5 years ago