Dublin, Dec. 05, 2024 (GLOBE NEWSWIRE) -- The "Hotels in Ireland - Market Research Report (2014-2029)" report has been added to ResearchAndMarkets.com's offering.
This report covers the scope, size, disposition and growth of the Irish hotel industry including the key sensitivities and success factors. Also included are five year industry forecasts, growth rates and an analysis of the industry key players and their market shares.
Hotels in Ireland enjoyed sustained demand from both domestic and international consumers in the years before the COVID-19 outbreak. A reduced tax rate has also supported hotels in the years following the financial crisis, which made travelling in Ireland more affordable. This was axed in 2018 before being reintroduced to support tourism during the COVID-19 pandemic.
Revenue has dropped at a projected compound annual rate of 1.6% over the five years through 2023 to €3.9 billion, despite a 6.2% hike in 2023. This contraction was down to the COVID-19 outbreak and the imposition of strict restrictions, which plunged tourism in 2020 and 2021.
Trends and Insights
- Hotel revenue rebounds as tourism resurges. The lifting of travel restrictions and rising foreign visitor numbers, alongside domestic tourism growth, have driven occupancy rates and revenue recovery.
- Financial challenges benefit budget hotels. The financial implications of soaring inflation have resulted in consumers seeking more budget-friendly accommodation, supporting demand for economy hotels over others.
- The South-West and West of Ireland offer popular tourist spots. Cork and Kerry are highly prized for their beaches and scenery, while the West's pretty landscapes attract wealthy older customers.
- Hoteliers face competition from home-sharing networks. The current lack of regulatory requirements surrounding this form of stay means that private short-term lets are able to significantly undercut hotels.
Major Companies Analyzed
- Dalata Hotel Group plc
- Tifco Ltd.
- Cape Wrath Hotel Unlimited Company
Key Topics Covered
ABOUT THIS INDUSTRY
- Industry Definition
- Main Activities
- Similar Industries
- Additional Resources
INDUSTRY AT A GLANCE
INDUSTRY PERFORMANCE
- Executive Summary
- Key External Drivers
- Current Performance
- Industry Outlook
- Industry Life Cycle
PRODUCTS & MARKETS
- Supply Chain
- Products & Services
- Demand Determinants
- Major Markets
- International Trade
- Business Locations
COMPETITIVE LANDSCAPE
- Market Share Concentration
- Key Success Factors
- Cost Structure Benchmarks
- Basis of Competition
- Barriers to Entry
- Industry Globalization
MAJOR COMPANIES
OPERATING CONDITIONS
- Capital Intensity
- Technology & Systems
- Revenue Volatility
- Regulation & Policy
- Industry Assistance
KEY STATISTICS
- Industry Data
- Annual Change
- Key Ratios
JARGON & GLOSSARY
For more information about this report visit https://www.researchandmarkets.com/r/g6zi21
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