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Industry revenue of »hotels and similar accommodation« in Ireland 2011-2023

Over the years, tourism has flourished in Ireland owing to the popularity of visitor attractions such as the Titanic Belfast, cultural festivals and music events. According to estimates published by Tourism Ireland, 11.2 million tourist arrivals were recorded in the country in 2019. Many related industries have also benefitted as a result with hotels being one. The industry witnessed 40 percent revenue growth between 2015-2019, despite a decline in the number of hotels, owing to increased tourist spending. Initial projections for the medium term demonstrated a 13 percent industry growth, which look bleak at this point in time, as majority of the industry operations have come to a halt due to the outbreak of the Covid-19.

The Dalata group, which operates some of the biggest hotel chains such as Clayton and Maldron, was forecasting record revenues for the short term in September 2019. However, it is now anticipating a 16 percent fall in year-on-year revenues for the quarter ending March, and is in the process of closing several hotels and implementing lay-offs. Moreover, over 20 percent of the hotels in Northern Ireland have already been shut for an indefinite period and thousands of staff have been laid off. The government has also ordered the closure of all pubs and bars, a move that will cost the industry at least 100 million euros, according to industry experts.

Industry revenue of »hotels and similar accommodation« in Ireland from 2011 to 2023

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Sources

Supplementary notes

* Estimate - This also applies for past years as data provided by statistical institutions often is not available for more recent years.

Currency conversion factor: (EUR -> USD) = 1.186

The industry classification is based on the NACE Rev.2 - system in Ireland. The industry “hotels and similar accommodation“ has the code “I551“.

Details on the methodology can be found here.

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