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Hospitality & Tourism October 2016

Published: Nov 02, 2016
  • CBRE have reported that 37 hotel transactions took place to the end of September 2016 and have been worth €238m, with the Gresham Hotel accounting for nearly €100m of this figure. 
  • The proposed Center Parcs in Longford which was estimated to cost €233m could have as much as €30m - €35m added to its construction cost due to the fall in sterling following Brexit according to the Chief Executive Martin Dalby.  However he advised that once the premises is fully operational, revenue and profits will be in euro and therefore not subject to the swings in Sterling.  The Center is due to open in mid-2019.
  • Dublin Airport was the fastest growing airport in Europe in August reporting a 9% increase in passengers.  The average growth of European airports for August was 2%.  So far, for the first 8 months of the year, Dublin is the 16th busiest in terms of handling passengers.
  • Ireland enjoyed a 13% increase in visitors for H1 with tourists spending increasing by 10% in the same period to €2bn. 
  • Airbnb listings in Ireland grew by 66% for the period August 2015 – August 2016.  Those seeking Airbnb accommodation in Ireland rose also by 136% in the same period.  Irish travellers seeking accommodation in Airbnb’s abroad rose by 107%. 
  • Budget 2017: The lower 9pc VAT rate for tourism will be maintained.
  •  Ryanair have downgraded their profits forecast in the 12 months to March 2017 to 7% vs an original 12% rise in profits as a direct result of the fall in Sterling. 
  • Dublin Port received 103 cruise visits in the first 9 months of 2016.  The port also reported a 7% increase in exports and a 6.7% increase in imports.
  • The Dublin Airport Authority is seeking to develop a 402 bedroom hotel at Terminal 2.  It will be the 4th largest hotel in the country.

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