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Bord Bia

Hotel & Restaurant Sector

Hundreds of restaurants at risk of closure as insurers exit hospitality sector

The Irish Times – 20.12.2019

The new year could see the closures of hundreds of restaurants, cafes and coffee shops across the country as four of the companies offering insurance to the sector have announced their intention to withdraw from the market.The dramatic contraction in the number of companies willing to offer quotes to small businesses could see the cost of some insurance premiums increase by almost 200 per cent and in an industry with notoriously thin margins, increases of that magnitude could lead to many businesses shutting, it has been warned.

IHF releases results of its latest industry barometer

Hospitality Ireland – 01.01.2020

As the 2019 tourism season comes to a close, the hotel sector is reporting a year of mixed performances, according to the results of the latest industry barometer from the Irish Hotels Federation (IHF). The IHF found that just 35% of Irish hoteliers have a positive outlook for 2020 as the uncertainty over Brexit and the high cost of doing business take their toll and overseas visitor growth continues to slow down. The IHF noted that the latest figures from the CSO indicate that there was only a 1.5% increase in overseas visitors to Ireland during the first eleven months of 2019, which was down from a 5.5% increase for the eleven months to the end of November 2018. While 48% of hoteliers reported an increase in business for the year, 44% reported a fall. 48% of hoteliers reported increases in the domestic market and 44% of hoteliers reported increases in the US market.

Fallon & Byrne closes Rathmines branch

Checkout.ie – 07.01.2020

Restaurant, food shop and wine bar group Fallon & Byrne has recently closed its outlet in the Rathmines. Located in the Swan shopping centre, the 10,000 square foot food hall and restaurant was the firm's biggest outlet in the Irish capital. The company recently took to social media to post to confirm the closure of its Swan shopping centre branch. "Unfortunately the location was loss-making and, while the decision was a very difficult one, we believe that acting decisively is what's best for the business overall," read the statement. The company added the closure of the Rathmines outlet would not affect its stores in Exchequer Street in Dublin city centre and Dún Laoghaire.