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Hospitality Mar 2017

Published: Mar 10, 2017
  • Ryanair’s profits fell by up to 8% in Q3 2016 to €95m vs an expected €99m.  CEO Michael O’Leary cited a weak pricing environment including a weaker sterling as playing a significant part in the drop.  The load factor for Q3 was 95%.
  • Connaught Airport Development who operate Knock Airport saw their profits increase nine-fold in 2015 to €112,206.  Revenues at the firm however reduced to €12.3m in 2015 from €14m in 2014 – a drop of 12%.  Passenger traffic at the airport increase by 7% in 2016.
  • The Landmark Hotel in Dublin’s Exchequer Street is seeking to renovate the property by adding a 7-storey extension to the hotel which is in operation for nearly 130 years.
  • Aer Lingus is believed to be in the process of adding 7 Airbus A32neo to add to its current fleet. This would significantly help their expansion into the US.  It is highly likely that these new jets would be leased to Aer Lingus.
  • Ryanair is believed to be seeking to increase its operations in Polish airports to over 13. 
  • A new report by Savills highlights the shortage of hotel beds in Dublin.  They are expecting 1,500 new beds in 2018 and up to 2,000 in 2019.  2018 will see two new Dalata hotels, and 2019 may well see the new 402-bedroom at Terminal 2 come to life.  The report also highlights that 33% of hotels in Ireland changed hands since 2011. 
  • A new report shows that RevPAR for Irish hotels rose on average of 9.5% in January.  Occupancy in hotels for January increased by 3.7% and average daily rates rose 5.7%.
  • Norwegian Air announced plans to fly 19 times a week from Cork, Shannon & Dublin airports to Boston and New York from July 1.  Introductory fares start at €69 one way.  It will be the first time a transatlantic flight departs from Cork Airport.  Norwegian Air is the third-largest low-budget airline in Europe and carries 30 million passengers annually. 

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