NAMA may seize Ritz-Carlton control
Wednesday March 10 2010
THE RITZ-CARLTON in Enniskerry may end up being controlled by the National Asset Management Agency (Nama), along with several other high-profile hotels around Ireland and London.
The Shelbourne, the K-Club and the Radisson and G Hotel in Galway as well at the Ritz-Carlton are all linked to the top 10 developers whose multi-billioneuro profolios will form the first wave of €80 billion in loans to be moved to Nama.
The hotels qualify for Nama because they are associated investments of those developers, and the loans have been provided by Irish banks covered by the Government's 'bad bank,' scheme.
