As CarTrawler continues its strategic review, debt connected to the Irish travel tech giant is now trading at a discount
The collapse of the tourism market has impacted business and revenues at CarTrawler. Now, the company’s debt is being traded on the grey market among private equity players.
16th Apr, 2020 - 3 min read
Denis O’Brien’s empire in a time of global crisis: Part 2 – the Quinta do Lago resort
Like all tourism businesses, Denis O’Brien’s Quinta do Lago resort in the Algarve has been rocked by Covid-19. The property valued at €220 million in 2015 is a small but high-profile part of the businessman’s portfolio. Documents show the strategy behind the story and its financial performance.
3rd Apr, 2020 - 19 min read
“Catastrophic impact”: anatomy of Usit’s lightning-fast insolvency
One month ago, directors of the historic student travel agency met to sign off on a promising set of accounts. Last week, they agreed to wind up the company. The downfall reveals the devastation being caused by Covid-19 in the travel sector.
1st Apr, 2020 - 8 min read
Grounded: Usit travel agent falls victim to Covid-19
The 60-year-old Dublin-based tourism company was placed into liquidation by the High Court. This is the first high-profile player in the sector to go insolvent as travel restrictions continue to become more severe around the world.
27th Mar, 2020 - 2 min read
“It is very good support”: Covid-19 income scheme may save dozens of jobs at Dublin museum
The EPIC emigration museum has kept on its staff since visitors stopped paying their way in nearly two weeks ago. New measures announced last night will allow it to continue.
25th Mar, 2020 - 5 min read
Striving for sustainable tourism: “Destination Ireland can’t be all things to all people”
Eight months into his new job, Kylemore Abbey’s executive director Conor Coyne is convinced that growth lies in quality over quantity. Helped by the religious ethos of his board members, he is investing millions into a more reflective form of tourism.