Crowe Horwath recently completed a short sentiment survey on the impact of Brexit on the Irish Hotel Sector. The aim of this research was to identify the effect of the Brexit result to date and to understand what impact hoteliers feel Brexit will have on their trading performance in the next 12-15 months.
An overview of the survey results can be seen here (pdf).
Overall Hoteliers anticipate that Brexit will have a minimal impact on their 2017 rooms turnover. Respondents also noted that Brexit had little impact on their business in the 3 months since the Referendum result. Respondents from hotels located along the Northern Ireland border were most concerned with the potential impact of Brexit with 75% expecting a decline in occupancy levels in the next 12-15 months.
On a positive note the majority of respondents expect that an increase in demand from domestic and other overseas markets will offset any potential decline in demand from the UK markets.
About Crowe Horwath
Crowe Horwath’s dedicated Hotel, Tourism and Leisure team comprises experienced accountants and hospitality consultants, who provide impartial expert advice on hotel, tourism and leisure projects at every stage of the lifecycle. The team also produces the Annual Crowe Horwath Ireland Industry Survey, which serves as a benchmarking tool for the sector.