Dáil Éireann Debate, Wednesday - 19 May 2010
80 Deputy Mary Upton asked the Minister for Finance further to Parliamentary Question No. 119 of 12 May 2010, the number of hotels which have been transferred into the National Assets Management Agency to date; the expected number of hotels which are to be transferred; and if he will make a statement on the matter. [20792/10]
Amharc ar fhreagraAs I outlined in my response last week to Parliamentary Question 119 of 12 May 2010 property, including hotels, does not transfer directly to NAMA. I assume, therefore, that the Deputy is asking about the number of hotels covered by the €0.77bn tranche 1 consideration estimate referred to in my answer. The transfer of the first tranche was completed on 10 May and the actual consideration paid was less than the initial estimate. NAMA acquired loans whose security included 17 Hotels with a current market property value of €310.6m in Tranche 1. This was equivalent to 4.17% of the acquired portfolio. 13 of these hotels are based in Ireland with 4 outside of Ireland.
I am further informed by NAMA that the actual number of loans which list hotels as security that may eventually transfer to NAMA will only be known when the due diligence on all the loans is completed and the loans are transferred to NAMA. Such transfers will take place throughout 2010.
