Gresham Group plans disposal of assets as losses soar to €5.7m

THE Gresham Hotel Group plans to dispose of assets to reduce its level of debt as losses soar.

Its biggest assets include its hotels on O’Connell Street in Dublin and the Metropole Hotel in Cork.

Losses at the hotel group soared to €5.7 million last year following losses before tax in 2007 of €12.5m.