• Euro hotel sell-off

The Le Meridien hotel in Split, Croatia is among billions in European property assets up for sale this year. Europe’s banks will sell off EUR60bn of problem debts this year at up to 95% discounts, reports Bloomberg.

The Split hotel belongs to bank Hypo Alpe, after its owners defaulted on EUR50m of loans. Banks are being pressed to sell out of problem assets, rather than sit on them until the situation improves.
Read the full story here:
http://www.bloomberg.com/news/2014-01-08/stress-tests-spurring-82-billion-bad-debt-selloff-euro-credit.html

Share →