Future hospitality trends in Ireland

Author: Anne Walsh, James Kirk (yBC.tv)

Categories: Europe, Financial, Investment
Tags: 2008, banks, exits, IBRC, Ireland, ownership, RevPar
Hospitality trends are more positive as regional markets recover from the recession. In this TV show Anne Walsh shares her insight into the Irish hospitality market.

Ireland, banks, and hospitality trends

What we are definitely seeing now is we’re seeing more transactions. So say in 2008, 2009, 2010 we saw very few asset sales. But in the last year alone we saw 200 million Euros worth of asset sales in Ireland. And we’re foreseeing a lot more of that going forward because seen now that we release assets into the market, we have banks, some foreign banks are exiting the market. And we’ve also a bank that’s currently being liquidated, IBRC. So we’re going to see hotels change hands. So I think the structure of ownership is going to be very different. You know, we’re seeing hoteliers maybe buying back hotels but we’re also seeing a lot of international money coming in. So definitely the profile on ownership, we’ll see new brands come into the market I think in terms of management contracts and franchising. And we’ll also start seeing more recovery in the regional markets whereas in Dublin we’ve been seeing double digit RevPAR growth for the last three years but that hasn’t been reflected in the other regions. But we’re starting to see a lift there as well. So hopefully in three to five years’ time all regions will have recovered and it will be a stronger market.

There will be more interesting discussion on regional hospitality trends on the Hospitality Channel. Keep an eye out for the next experts announced as part of Hospitality250.

 
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