Re: Re: well what about the developments popping up in the shannonside ?
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Hotel market says goodbye to incentives (Sunday Business Post)
03 December 2006 By Dermot Curtin
It is with some relief that the hotel community in Ireland will say goodbye to the attractive tax incentives regime that is being phased out from the end of this year. While the capital allowances scheme was hugely instrumental in attracting badly needed capital investment into modernising and developing the countryâ€™s hotel stock over the last ten years, some areas of the country are now suffering from oversupply.
With the tax incentives more or less gone, the next few years should see an easing off on new supply as lending institutions become much more selective on which projects to support – any new proposals will need to demonstrate that specific demand exists for their particular project. That should help see demand catch up with supply.