Regional Imbalance Worries Hoteliers

One third of hoteliers will not make a profit in 2015, according to members of the Irish Hotels Federation, who claim overhanging debt, commercial rates and lack of incen


tives to entice tourists beyond traditional “hotspots” are still threatening profitability.
The hoteliers are attending their annual confereence in the Slieve Russell Hotel this week and to-day's speakers include Professor Alan Ahearne, Economist, Sarah Duignan, Director of Account Management, STR Global,  Aiden Murphy, Partner, Crowe
Horwath, David Zammitt, Industry Manager, Google UK Travel Team, Alan O’Neill, Change Consultant, Kara Change Management, Warren MacDonald, Inspirational Keynote Speaker, Brian Cody, Kilkenny Senior Hurling Team Manager and Minisyer Michael Ring.
Speaking at the opening of the conference at the Slieve Russell Hotel  a number of hoteliers said they had deals with suppliers and staff to cut costs following the economic collapse in 2008.
While occupancy rates in Dublin rose by 3 per cent in 2014, and are set to grow by at least that much again this year, hoteliers in other areas said they had not done so well and were now facing calls for “pay back” from staff and suppliers.
A number of speakers at the conference said the recovery was fragile and the reduced 9 per cent VAT rate continued to be vital to the industry.
Hotels Federation chief executive Tim Fenn said regional tourism required greater Government support as the slower pace of recovery in some areas is a “major challenge for many hotels and guesthouses”.
 Stephen McNally, President of the IHF (pictured with ceo Tim Fenn) said that the funding allocation for the State's tourism bodies has been cut back substantially since the downturn and now needs to be reinstated. He adds that, with additional funding, the Government target of 10 million visitors generating an additional 50,000 new jobs could be achieved by 2020 as opposed to the current target of 2025. 
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Small Loss at Rochestown Park

The company that operates the four-star Rochestown Park Hotel in Cork increased its earnings in 2013 by 4% to €1.37m.
Figures lodged with the Companies Office by Windsor Surprise Ltd show that the business increased its earnings after revenues went up 6% from €9m to €9.52m.
The figures show that the firm recorded a modest pre-tax loss of €87,779 following a pre-tax loss of €6.4m in 2012. However, the 2012 loss chiefly arose from a €6.18m writedown in assets.

Marker Posts 2013 Losss

Accounts for Dublin's Marker Hotel for 2013 showing that it recorded a loss of €4.32m. The loss  takes account of non-cash depreciation costs of €1.49m.
Operators  GCS Hotel Property Ltd had bank debt of €12.79m and shareholder debt of €20.2m at the end of 2013.
The 187 bedroom hotel, located at Grand Canal Square in Dublin’s Docklands, opened in April 2013.

iNua Completes Muckross Park deal

 Irish hospitality investment company iNua Hospitality has completed the purchase of the  five-star Muckross Park Hotel and Spa in Killarney for a sum in excess of €6 m


illion via selling agents DTZ Sherry FitzGerald.
The purchase of Muckross Park Hotel expands iNua Hospitality’s hotel asset portfolio after the company previously purchased the Radisson BLU hotels in Cork for €9 million, and Limerick for €3.5 million in the last 18 months. iNua Hospitality has immediate plans to invest close to €250,000 in a stylish refurbishment of the hotel’s 12 apartments, with further plans to build two additional suites in the luxury hotel.
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Armada Tops for Weddings

The Armada Hotel in Spanish Point, County Clare, has been chosen as Irish Wedding Venue of the Year at the weddingsonline 2015 Awards Gala 


Dinner in Dublin.
 The Clare hotel has been named ahead of dozens of other wedding venues from across Ireland as winner of the prestigious award, which was the subject of a vote involving more than 28,000 brides and grooms nationwide.
 The Armada Hotel also picked up the Waterside Venue of the Year, Website of the Year and Venue Co-Ordinator of the Year awards.
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