GALWAY HOTELS CALL FOR POLITICAL INTERVENTION ON HOTEL LOANS

Date Published: 21-Aug-2010

The Galway branch of the Irish hotels federation is calling for local Government intervention following the withdrawal of Bank of Scotland Ireland. It’s understood the bank provides around €30m in working capital facilities to around 150 hotels across the country, an estimated ten of which are in Galway. The banks withdrawal from the Irish market means around ten Galway hotels will be left without their flexible credit arrangements by the end of this year.