Allied Irish Banks (AIB) continues to be 'very supportive of the Irish hospitality sector' and has approved over €300 million in loans to the hotel sector in 2016, according to the head of AIB's hospitality division.
Owen Travers commented that the hospitality sector is "one of the key driving forces behind employment growth and the Irish economic recovery" and that AIB is providing significant funding for a few carefully chosen new hotel development projects, reports The Irish Examiner.
AIB has confirmed it would be the funding partner for a 198-bedroom Holiday Inn Express in Dublin and for a 66-bedroom extension to Trinity City Hotel.
It also plans to fund the provision of an additional 30 new hotels, resulting in a further 1,000 bedrooms in Ireland over the next 18 months.
