Irish Zombie Hotels Revive as John Malone Checks In: Mortgages
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In Ireland, the zombie hotels dotted across the landscape are beginning to revive or die.
Four years ago, the country’s debt-laden hotels were contending with falling visitor numbers and new competitors financed by surging mortgage lending during Ireland’s Celtic Tiger boom. That’s when zombie hotels emerged, slashing room rates to stay alive and keep tax breaks granted during the boom.