Tag: Hotel DebtsView All Tags
The Irish flag flying out front of the St. Regis Hotel in Washington, D.C. makes a lot more sense now.
If Irish billionaire Dómhnal Slattery had a drink or two this weekend for St. Patrick's Day, it’s unlikely they were as celebratory as those thrown back by others as last week a high court ruled he owes approximately $10 million resulting from a personal guarantee to help fund the purchase of the St. Regis.
The kicker? Slattery said he didn’t even know the contract he signed was a personal guarantee, and that he didn't necessarily intend to splash the pot. So much for the luck of the Irish!
The good news is Slattery is one of Ireland’s wealthiest citizens. His airline leasing company, Avolon, has raised over $5 billion in capital since its 2010 beginnings. We’re guessing he won’t lose too much sleep over this multi-million dollar payout.