sorry to hear that GMan, best of luck and hopefully somrthing comes along for you
Sorry to hear about that Gman. At least you were able to get something up and running on the side before it happened. Best of luck with it and hope it works out for you.
Kev, setting up a business now is as risky as ever but if you have an idea, go for it. Just be sure you’ve a rock solid way of getting money. My brother moved back home 6 years ago and set up his own engineering company. At its height he had close to 150 people doing work for him but its nearly gone to the wall now and is fighting in the court to get paid even a fraction of what he’s owed. He also owes lads money and he can’t pay them until he pays. Its a viscious circle.
Ireland went mad building hotels in the last couple of years but the lads and they’re part of the biggest culprits.
[quote=“Mac”]
Ireland went mad building hotels in the last couple of years but the lads and they’re part of the biggest culprits.[/QUOTE]
The amount of hotels in Ireland is crazy alright. I was down in Ballinasloe about a year back and there was a brand new four star Carlton Hotel down there - I stayed in there and it was a very nice place. But you ask yourself how could they be filling that during the year in Ballinasloe?
Anecdotally less than 15% of hotels in the country are turning a profit
I’m not surprised. I would be around the country quite a bit in my line of work and there are hotels mainly from hotel chains all over the place. It’s grand for me as generally you have a choice of fairly decent places to stay but you wonder how they could be making money.
I know the one in Ballinasloe actually, fine spot.
MOst of them were built for tax breaks alone and the underlying business case was not assessed properly. Ditto many nursing homes and housing developments. It has the country fucked.
The hotel chains dont build them, they are just in there as operators, very little risk to them apart from reputational.
Wasn’t there some ridiculous tax break to be claimed from building hotels? Apologies for the sketchiness - think it was a McCreevyism. There’s heaps of the bastards alright.
What would the occupancy levels be like these days, presume they would be fairly low, used to work in a hotel myself, remember the manager telling me in terms of profitability that one person in a room was worth 8 in the bar
[quote=“dancarter”]I know the one in Ballinasloe actually, fine spot.
MOst of them were built for tax breaks alone and the underlying business case was not assessed properly. Ditto many nursing homes and housing developments. It has the country fucked.
The hotel chains dont build them, they are just in there as operators, very little risk to them apart from reputational.[/QUOTE]
There was a guy on Questions and Answers last night, claiming to be an economist, saying that we should build more houses as we are housing ratio per head of capital is still lower than the European average.
He was shot down by Dermot Ahern.
I am not an economist but it doesn’t sound like the best idea to me.
Capital allowances for building them could be written back over ten years, hugely complex structure put in place for same. The fact that you are not aware of this makes me think you are neither a Banker nor an accountant.
Are you the chinese guy who collects the post in my office?
One in the room is worth fook all unless they go to the bar. Cinema model now, get them in cheap and fleece them inside.
Can’t give too much away, but I had this morning off to watch the Ding/Wenbo match at the Crucible.
I suppose so, in fairness it was 4 or 5 years since I worked there and it was very well established and had a decent occupancy rate most of the year…
Serious money to be made of weddings, the place used to have 100+ a year
[quote=“dancarter”]Capital allowances for building them could be written back over ten years, hugely complex structure put in place for same. The fact that you are not aware of this makes me think you are neither a Banker nor an accountant.
Are you the chinese guy who collects the post in my office?[/QUOTE]
i respect bandage for realising banking & capitalism is dead
you on the other hand feel the need to boast about working in probably the most reviled sector in the world - you sicken me
[quote=“farmerinthecity”]There was a guy on Questions and Answers last night, claiming to be an economist, saying that we should build more houses as we are housing ratio per head of capital is still lower than the European average.
He was shot down by Dermot Ahern.
I am not an economist but it doesn’t sound like the best idea to me.[/QUOTE]
That seems nuts. Maybe he meant if we had built more houses in the right places places would not have spiralled out of control.
A straw poll here would indicate the vast majority of posters dont live in there own house, myself included, and would aspire to at some point in the future. The housing model we had meant that prices spiralled out of reach of most average workers.
If all the houses on the market were sold at 3 times your salary or something affordable like that the vacant units would start to diminish pretty quickly.
好为您我的朋友
[quote=“dancarter”]That seems nuts. Maybe he meant if we had built more houses in the right places places would not have spiralled out of control.
A straw poll here would indicate the vast majority of posters dont live in there own house, myself included, and would aspire to at some point in the future. The housing model we had meant that prices spiralled out of reach of most average workers.
If all the houses on the market were sold at 3 times your salary or something affordable like that the vacant units would start to diminish pretty quickly.[/QUOTE]
a banker giving advice about property:rolleyes:
give it over mate
[quote=“north county corncrake”]a banker giving advice about property:rolleyes:
give it over mate[/QUOTE]
DC getting rattled on this thread too. Take it easy on him.
NCC thought you might have had some advice for me in the above
never been to south america but everyone i know who has gone loved it- get a big river plate boca derby into
head to asia too, you could live for months on fuck all there
[quote=“KIB man”] DC getting rattled on this thread too. Take it easy on him.
NCC thought you might have had some advice for me in the above[/QUOTE]
as your pal would say HUH?