Brexitimpact loomingfor Louthhoteliers
Despite another year of growth in 2018, business sentiment among hotels in Louth and across the country has dropped significantly according to the latest hotel barometer from the Irish Hotels Federation (IHF).
Less than half of hotels (49%) nationally now report a positive outlook for the next 12 months compared with the 82% who had a positive outlook this time last year.
Key concerns for the sector include the escalating risk and uncertainty around Brexit, reduced visitors numbers from the UK and the increasing costs of doing business.
While 73% of hotels have seen some increase in overall business levels this year, growth from North America and Europe has masked the poor performance of the UK market with visitors still down 5% on 2016 due to persistently weak performance following the referendum.
Martin Daly, Chair of the hoteliers branch in Louth said: ‘ We are increasingly concerned about the direction that Brexit is taking and the impact that heightened uncertainty is having on our sector. A disruptive Brexit would have enormous economic repercussions which would be felt directly by tourism businesses here in Louth.’ Tourism currently supports 2,600 jobs in Louth and contributes some €74m to the local economy annually.
Mr Daly states that, even if a deal is eventually reached, any prolonged uncertainty in the coming months could result in a further erosion of consumer sentiment. ‘ The impact would be more pronounced in the regions, particularly those outside the main tourism hotspots which have lagged behind in recent years and can least afford the economic hit.’