The top hoteliers of tomorrow have been assured that the industry will weather any Brexit fall-out.
Addressing graduating students at the world-renowned Shannon College of Hotel Management, Dr Phillip Smyth, said, “There is undoubtedly going to be an impact from Brexit for the industry and it’s already being felt but overall tourism is going to weather this storm a lot better than other sectors.”
“Exchange rates are already a challenge but this is a flexible industry and the major plus for tourism is the growth of travel. There’s very significant growth in inbound tourism, particularly from the likes of the US and Europe so we are confident that will offset any effect that Brexit is having. But it is also very important that state agencies tasked with promoting Ireland as a destination overseas receive sufficient funding to compete.”
Also speaking at the event was Colm Hannon, who is overseeing one of the most eagerly awaited investments in the hotel sector in Ireland for over a decade with the redevelopment of Adare Manor Resort, said that the five star hotel sector, in particular, is very much insulated against Brexit impact.
“We are a little different in that the UK market made up a lower percentage of our business in the past, somewhere in the region of 10%. Approximately 65% of our business has been from the US and that will continue to be the lion’s share of the Adare Manor market. By and large, our end of the market will overcome any Brexit impact through growth in other areas,” he stated.
