Lloyds deal to recoup Irish loans

Lloyds Banking Group has signed an agreement with BDL Ireland Management that may allow the company to manage hotels tied to the bank’s €1bn of Irish lodging loans, according to two people with knowledge of the matter.

Receivers to hotels that defaulted on their loans from the London-based bank will have the option to use BDL’s property management services, said the people, who declined to be identified. BDL built 30 hotels in Britain and managed 45 through November, according to its website.

Lloyds spokesman Ian Kitts and BDL Ireland managing director Andrew Gill declined to comment.