Nama’s impact on hotels ‘overstated’

Finance Minister Michael Noonan has said Nama’s potential impact on the hotel sector is “overstated”.

In a written Dáil response, Mr Noonan said Nama’s debtors and receivers control 121 hotels, of which 117 are fully operating and four recently ceased trading.

In response to Independent TD Michael Healy-Rae, Mr Noonan said: “There are over 900 operating hotels in Ireland and, accordingly, Nama has exposure to only 13% of the sector. Its potential impact on the overall viability of the sector is overstated.