A report by the Irish Hotels Federation (IHF) has revealed that the vast majority of hotels in Ireland have seen an upturn in business so far in 2015.
The latest Hotel Barometer showed that 89 per cent of hotels and guesthouses reported increased business, while 77 per cent said domestic business had improved.
Some 95 per cent of respondents said the special VAT rate of nine per cent will help them maintain current staff levels and/or hire new staff over the next 12 months. According to the IHF, over 33,000 jobs have been created in the hospitality industry since its introduction in 2011.
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President of the IHF Stephen McNally states that confidence among hoteliers continues to improve as the recovery in tourism strengthens.
“Irish tourism has performed strongly since the start of the year and throughout the summer season, with overseas visitors set to reach over 7.8 million by year end – a level not seen since 2007. The improved outlook for future trading conditions is providing a significant boost to tourism businesses throughout the country, including hotels and guesthouses,” said McNally.
The increased business has given hoteliers confidence to increase their marketing presence and make refurbishments in the upcoming year.
Despite the improved circumstances, McNally warned that many businesses are operating with high overhanging debt from the downturn, and 34 per cent reported they remain concerned about the viability of their business.