This is down from almost three-quarters of this cohort a year ago. Hoteliers pointed to business costs as the main challenge this year, with some forecasts suggesting that the industry could face a further 8pc rise in costs this year. This follows two years of increases, the IHF said. Almost 80pc of hotels said they were concerned about the economic outlook for this year as forward bookings are down 4.5pc compared to the same period last year. Around 53pc are reporting a net decrease in bookings, with those surveyed pointing to a decline from Ireland, the UK and Europe.
Despite an increase in costs, hotels are continuing to invest in properties to attract new visitors, with 78pc planning investment projects in the year ahead. This includes refurbishment of guest bedrooms and common areas, as well as guest technology. The IHF represents 900 hotels and guesthouses located across the country, which employ over 65,000 people.
