Hotel group Dalata said trade was lower in Ireland as the increased VAT rate and higher competition hit its business.
Dalata said the timing of certain events in 2023 was also creating an unfavourable comparison, such as the visit of US president Joe Biden that boosted demand in April 2023. Dalata, which floated on the stock exchange 10 years ago, has 53 hotels across Ireland, the UK and continental Europe, and recorded more than €600 million revenue last year.
“As reported during our full year results in February, there has been lower levels of trade in Ireland. While the Dublin market continues to digest the impact of new supply, trade improved during March compared to January and February.”
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