According to research from the Irish Hotels Federation, (IHF) it has been estimated that hotels could potentially lose over €90 million in revenue this Christmas with events being cancelled due to Covid-19 restrictions.
Industry stakeholders are now urging the Government to provide additional supports to the sector to tackle the lost revenue from events cancellations.
These cancellations come as public health guidelines advise working from home when possible as well as a reduction in social contacts.
Chief executive of the IHF Tim Fenn stated, “The trading environment for the hotel sector is now completely different to a few weeks ago. Hotels and guesthouses are taking an enormous financial hit, and this must be recognised up front by the government in the form of urgent additional supports for our sector.”
He added, “The government must recognise the impact recent changes to public health advice are having on our industry and reverse decisions to withdraw supports until the impact of Covid 19 measures has abated”.
Room occupancy rates are also expected to be lower this year with occupancy averaging 34% for December and 14% in January and February.