Turning a Corner

  • Maybe on the day of the bank stress test results, a little good news might help.
  • Lots of good things are happening which suggests that there is life after recession, and that travel and tourism will recover again, as it always has done in the past.
  • For instance, HotStats reports that Dublin hotels shrugged off the economic woes of Ireland during February and recorded an astonishing growth in profits of 40%, according to the latest survey from TRI Hospitality.
  • “The continued increase in the Dublin market performance is remarkable, particularly when considering the negative headlines on the Irish economy and significant increase in hotel supply severely affecting hotel performance over the past two years.  Whilst no one can say for certain that there will be a sustained improvement in hotel revenue and profit performance in 2011, a double-month growth will give hoteliers some hope for the future”, said Jonathan Langston, Managing Director of TRI Hospitality Consulting.
  • And staying with Dublin, the Convention Centre has reported a tremendous level of forward bookings for major international conferences.  This is all new business which Dublin or Ireland could never have accommodated before the Convention Centre opened.  They range from the British Orthopaedic Association, to the World Congress on Water Climate & Energy, the International Congress on Accident & Emergency Medicine, the World Molecular Imaging Congress, to the Society of Molecular Biology & Evaluation, and many many more.
  • It’s too soon to be blasé of course but things are beginning to look more promising.  The visits of Queen Elizabeth and President Barack O’Bama (!) in May presents an extraordinary opportunity in our largest and second largest source markets, to showcase the marvellous welcome and good value product which Ireland continues to offer the visitor.
  • There’s still a long way to go, but a start has been made.  As Churchill once said, “if you are going through hell, keep going”.
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