Glenlo Abbey in receivership now ... is anywhere safe?

emptybladder

Sorry, I don't know how to link straight to a Twitter account post. This is from the Tribune's news feed:

I know it's a five star hotel, but I always thought the Burkes that own the place were minted. And that Orient Express restaurant was quality.

Is any business in Galway safe at this stage ... strolled down Shop Street yesterday morning and it was like a ghost town.

galwaynews ConnachtTribuneGroup



RT @endacunningham Receivers appointed to 5 star Glenlo Abbey Hotel in #Galway over €8m debt. See tomorrow’s Tribune for all the details




galwaynews ConnachtTribuneGroup



RT @endacunningham Glenlo owners hoped land sale for Outer Bypass would cover debts. Business lost €3m last year. See tmrw’s Tribune #Galway

http://www.facebook.com/ConnachtTribune
Also on facebook.

Receivers have been appointed to the landmark five-star Glenlo Abbey Hotel in Galway, which has debts of in the region of €8 million. It’s understood that the owners had pinned their hopes on selling off land for the Galway City Outer Bypass to clear their massive bank debts.
See ALL the details in tomorrow’s Connacht Tribune

ted2767

emptybladder wrote: »

Sorry, I don't know how to link straight to a Twitter account post. This is from the Tribune's news feed:

I know it's a five star hotel, but I always thought the Burkes that own the place were minted. And that Orient Express restaurant was quality.

Is any business in Galway safe at this stage ... strolled down Shop Street yesterday morning and it was like a ghost town.

galwaynews ConnachtTribuneGroup



RT @endacunningham Receivers appointed to 5 star Glenlo Abbey Hotel in #Galway over €8m debt. See tomorrow’s Tribune for all the details




galwaynews ConnachtTribuneGroup



RT @endacunningham Glenlo owners hoped land sale for Outer Bypass would cover debts. Business lost €3m last year. See tmrw’s Tribune #Galway

Anywhere safe?


In a word no I'd safely say most of the hotel owners in Ireland have at least some exposure to the property sector in Ireland.
It'd be an awful pity if it closed as I think it's the only nice old hotel left in Galway (I'm not a big fan of what was done to the Meryk).
It's also the only good hotel on that side of town and the orient express train is a very special place.

McTigs

ted2767 wrote: »

It's also the only good hotel on that side of town.

the westwood is a fine hotel.

Shame about Glenlo mind, an operating loss of 3m last year is a pretty serious amount to pull back from.

ted2767

McTigs wrote: »

ted2767 wrote: »

It's also the only good hotel on that side of town.

the westwood is a fine hotel.

Shame about Glenlo mind, an operating loss of 3m last year is a pretty serious amount to pull back from.

I'll agree to disagree with you about the westwood not my cup of tea at all but you're more than entitled to your opinion.

Seriously though it wouldn't suprise me if more hotels in Galway went to the wall.

celty

The hotels federation say that there were an extra 1,000 hotel rooms built in Galway between 2004 and 2007, part of the madness of FF in power during the 'Celtic Tiger' years, when they seemed to hiave grants and incentive schemes for all sorts of developments, no matter how sustainable.

I think in Limerick the figure went from 900 to 2,100 hotel rooms during the same period.

When the crash came, it was no wonder so many businesses were unsusinable, I've heard it said that 'ordinary' hotels cannot compete with all the 'Nama' hotels in Dublin and that's why prices have gone down.

Not a good business to be in at the moment, perhaps especially at the upper end of the market.

Sad to see Glenlo go into receivership. I think they were hoping to get a decent pay-off from the CPOs for the outer bypass for years and, of course, there was no sign of those funds coming down the line.

_Whimsical_

emptybladder wrote: »

Sorry, I don't know how to link straight to a Twitter account post. This is from the Tribune's news feed:

I know it's a five star hotel, but I always thought the Burkes that own the place were minted. And that Orient Express restaurant was quality.

Is any business in Galway safe at this stage ... strolled down Shop Street yesterday morning and it was like a ghost town.

Funny I was out in Salthill this morning and was amazed to see both Arabica and Gourmet Tart Co. were packed at 10am. Not a few stragglers but a buzz with customers. Cafe culture must be where it's at.

Surprised about Glenlo,I noticed they were offering rooms there on Groupon the other day. I wonder if they'll continue trading.

skelliser

i heard the staff havent been paid in 7 weeks

ted2767

skelliser wrote: »

i heard the staff havent been paid in 7 weeks

Poor bast*rds.
Not suprising though it's always the staff that get the raw deal in these situations.
Hotels are by their nature rough places to work and treat staff very poorly.
I have heard stories about hotels nearby where staff were told their pay was beibg cut and take it or leave it.
Now tbese guys wouldn't have been on much to begin with.

BhoscaCapall

I heard the workers at the Docks are frequently in to receive-a-ship:pac:

McTigs

ted2767 wrote: »

Poor bast*rds.
Not suprising though it's always the staff that get the raw deal in these situations.
Hotels are by their nature rough places to work and treat staff very poorly.
I have heard stories about hotels nearby where staff were told their pay was beibg cut and take it or leave it.
Now tbese guys wouldn't have been on much to begin with.

Wages have been cut take-it-or-leave-it in pretty much every industry.

Agree re staff getting a raw deal in hotels mind, i used to do accounts for a hotel group and the hours they put in are unreal for really tight wages. It's such a labour intensive industry that squeezing staff for every minute they can is the "best" way of reducing the cost base.

I always feel **** when the poor lad thats hoovering the stairs when i'm carrying my bag to the room is giving me pints at 4 in the morning and then running around serving breakfast the next day. They get worked to the bone for **** all thanks in some places.

mikom

McTigs wrote: »

I always feel **** when the poor lad thats hoovering the stairs when i'm carrying my bag to the room is giving me pints at 4 in the morning and then running around serving breakfast the next day. They get worked to the bone for **** all thanks in some places.

Choose a B & B the next time so.

celty

mikom wrote: »

Choose a B & B the next time so.

.... or don't go looking for pints at 4am!

McTigs

mikom wrote: »

Choose a B & B the next time so.

B&Bs make me nervous.

Friends couch was always my prefered but i have a family now

fishy fishy

pity about the glenlo abbey. although I was only ever in it a couple of times, it was pretty.

Westwood is a great hotel, a lot better than some of the "upmarket" ones in town. They do pretty good business too.

nuac

Sad news. Difficult time for every business

ROZLYN

Can't believe it, I love this hotel, had wedding reception there! Feel very sorry for those who have set their hearts on having their wedding there and paid deposits.

Mrs OBumble

McTigs wrote: »

B&Bs make me nervous.

Friends couch was always my prefered but i have a family now

Slightly OT - but why do B&Bs make you nervous?

celty

ROZLYN wrote: »

Can't believe it, I love this hotel, had wedding reception there! Feel very sorry for those who have set their hearts on having their wedding there and paid deposits.

I think if you read articles about it, in places such as www.galwaynews.ie, it's still open for business.

Sorry, haven't got the exact link.

celty

Here it is....

http://www.galwaynews.ie/24788-receivers-appointed-glenlo-abbey-remains-open-business

Even though it's in receivership, it's still open. With the same management and staff.

McTigs

JustMary wrote: »

Slightly OT - but why do B&Bs make you nervous?

I just feel odd sleeping in someones house who i don't know. I feel like i'm intruding. I'm terrified of things like i'll leave the bathroom in a worse state than when i went in or i'll break something. Sex is an absolute no no. I'm so conscious of being respectful of a strangers home i can't relax. Especially if the owners are a bit older' like my folks age.

I'm fully aware that all of this is down to me and my neurosis and not anything to do with the actual B&B owners, who i'm sure are lovely and are part of a very proud tradition in this country and i believe are something of a tourist attraction in themselves.

ben.schlomo

McTigs wrote: »

I just feel odd sleeping in someones house who i don't know. I feel like i'm intruding. I'm terrified of things like i'll leave the bathroom in a worse state than when i went in or i'll break something. Sex is an absolute no no. I'm so conscious of being respectful of a strangers home i can't relax. Especially if the owners are a bit older' like my folks age.

I'm fully aware that all of this is down to me and my neurosis and not anything to do with the actual B&B owners, who i'm sure are lovely and are part of a very proud tradition in this country and i believe are something of a tourist attraction in themselves.

Very much so but unfortunately quality ones are becoming fewer and fewer as cheaper hotels enter this price bracket.

ROZLYN

Good to hear it's operating as usual and open for business though.

RubyGirl

ROZLYN wrote: »

Can't believe it, I love this hotel, had wedding reception there! Feel very sorry for those who have set their hearts on having their wedding there and paid deposits.

It's not closing down, they just send in someone to work along with the Burke family and auditors.