Irish hoteliers are more optimistic about the outlook for the tourism sector according to an industry survey undertaken by the Irish Hotels Federation (IHF ). Overall confidence levels are up on last year with 51 per cent of respondents indicating a positive outlook for trading conditions for their business over the next twelve months (14 per cent had a negative outlook while 35 per cent had a neutral outlook ).
Key challenges
• Despite the more positive outlook for 2013, 71 per cent of hoteliers remain concerned about the future viability of their businesses.
• The vast majority (96 per cent ) are concerned that the Government may not retain the reduced VAT rate next year.
• Hoteliers cite excessive local authority rates and high electricity and gas prices as the most pressing issues stifling cost competitiveness within the sector.
• Limited availability of credit is still an issue for a significant number of hoteliers with 31 per cent (compared to 36 per cent in 2012 ) of respondents indicating they have experienced difficulties accessing standard/normal credit facilities from their banks during the last year.
