Bernard Allen (Cork North Central, Fine Gael)
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Question 134: To ask the Minister for Transport the progress made to date with regard to the sale of the Great Southern Hotels; when it is anticipated that this deal will be finalised; if he has the power to decide where the proceeds of this sale will go; if so, his decision in relation to same; and if he will make a statement on the matter. [21922/06]

Martin Cullen (Waterford, Fianna Fail)
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As I have stated previously in this House, decisions in relation to the sale of the Great Southern Hotels (GSH) are matters for the Boards of Dublin Airport Authority (DAA) and the GSH and I have no function in relation to them.

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 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 DAA to determine in the context of its commercial mandate under the State Airports Act 2004.

The hotels were advertised for sale by public tender on 17 May 2006 and the closing date for receipt of tenders is 7 July 2006. It is expected that the sale process will conclude in 2006.