The board of Great Southern Hotels has decided to engage advisors to assist in the disposal of the group's hotel assets. The group of nine hotels is owned by the Dublin Airport Authority.
It is understood that the board has informed Transport Minister Martin Cullen of the decision.
Any move to sell the hotels would have to be approved by the Government.
It is understood the hotels would be sold as a going concern. They include the two Great Southern Hotels in Galway, as well as hotels in Killarney, Rosslare, Parknasilla, Derry, Shannon Airport, Dublin Airport and Cork Airport.
The hotel group has a workforce of over 750, the majority of which are represented by SIPTU.
This evening's statement from the board of the hotel group said that early meetings will be arranged with staff and trade union representatives to engage with them on the difficulties faced by the hotel chain.
'Great Southern Hotels would like to assure all its customers and business partners that it intends to operate all its hotels normally during this
process,' the statement said.
'The Board of the Dublin Airport Authority fully supports and endorses this decision and has kept the Government, as shareholder, fully informed, the statement added.
