Jim Murphy - PREM Group’s Managing Director

Welcome to the PREM Group blog where you will find regular news about PREM Group as well as news and views about things that are important to us. I will be making regular contributions while various members of our team will be making their views known on an ongoing basis.

Reading the business pages of the newspapers over the last few weeks has been pretty depressing. All this talk of an American recession, sub prime mortgages, stock market crashes, etc. can be difficult reading at a time when as a business you are trying to look forward in a positive way to a new business year.That’s why when there is some good news out there we should be shouting it from the rooftops. Last September PREM Group launched a joint venture with Goodbody Stockbrokers called the European Hotel Consortium. The purpose of the EHC was to raise €44.70 million from Goodbody investors and PREM Group investors to invest in Hotel opportunities in Europe.

The EHC now owns 11 hotels and 2 management contracts in Belgium and France, all of which are managed by PREM. It is anticipated that the group would be sold after 5 years giving a projected return on investment of 20% per annum.The good news for our investors is that the value of the investment has increased by 33% since its launch in September 2007. That is an impressive return in such a short period of time. We are working hard to ensure that this trend is maintained over the coming years.

This entry was posted on Monday, January 7th, 2008 at 4:56 pm and is filed under General, Prem Group Ireland, Prem Group UK, Prem Group in Europe. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.
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