2023 H1 Insights

Record topline performance reported to date by hotels across the country, however operators continue to express concerns about profits due to sustained increases in costs and expenses particularly around staffing and energy.

2023 H2 Outlook

After a strong first half of the year, the outlook remains primarily positive in ROI with strong levels of business on the books reported on average by most locations. However, the anticipated increase in hospitality VAT which is set to revert to 13.5% in September will have an immediate and material impact in profit margins if implemented; uncertainty persists about the potential exclusion of food sales as part of the review.

BOI Hotel Insights and Outlook

Bank of Ireland Business Banking: businessbanking.bankofireland.com

Bank of Ireland Corporate Banking: corporate.bankofireland.com

Contact details

Gerardo Larios Rizo
Head of Hospitality Sector

 087 795 1253
 gerardo.lariosrizo@boi.com