Pádraic McCormack (Galway West, Fine Gael)
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Question 213: To ask the Minister for Transport if the Corrib Great Southern Hotel, Galway and the Great Southern Hotel, Eyre Square, Galway are sold; if so, if the proceeds of sale will be reinvested in Galway or where the returns generated from the hotel sales will be spent; and if he will make a statement on the matter. [15595/06]

Martin Cullen (Waterford, Fianna Fail)
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This is a day-to-day operational matter for the Great Southern Hotel, GSH, Group and the Dublin Airport Authority, DAA. However, I am informed by the DAA that the group has retained advisers to advise on all aspects of the disposal process for the hotels, including the two referred to by the Deputy. At this stage none of the hotels have been sold.

GSH is a wholly owned subsidiary of the DAA and I understand that any proceeds of the sale, net of all applicable liabilities and costs and after repayment of capital invested by the DAA, will accrue to the company and not to the State. The application or re-investment of any such proceeds will be a matter for the board of the DAA to determine in the context of its commercial mandate under the State Airports Act 2004.