Oireachtas Joint and Select Committees

Wednesday, 13 May 2015

Committee of Inquiry into the Banking Crisis

Nexus Phase

Photo of Pearse DohertyPearse Doherty (Donegal South West, Sinn Fein)
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Okay. Can you explain this to me. We have had evidence in today's inquiry about some people that ... that would have been looking for trophy properties for status purposes - and I won't be mentioning any individuals ... no individuals' properties was mentioned in that case - but ... just explain this to me, from a valuation point of view. If somebody is after a trophy property ... and lets say it's a group of hotels, for example, and they're willing to pay €1.5 billion for that group of hotels. Is that the value that you will put on it, despite the fact ... because that it what somebody is willing to pay for it ... despite the fact that you know that the comparison group of hotels in the region or in that region would be maybe half the value?