Limerick’s hotel sector enjoyed the highest growth rate nationally in 2018, figures revealed by AIB at a Limerick Chamber business briefing for the tourism, retail & hospitality sector suggest.
Giving a range of insights drawn from examining card transactions, David McCarthy, Head of Hospitality and Tourism at AIB – sponsors of the event – revealed that Limerick hotel business was up by 119% in 2018, with business from the North American market up 257%.
Speaking at the event titled ‘Spending Trends: Tourism, Retail & Hospitality Industry Insights & Marketing Trends’ at the Savoy Hotel, Mr Fitzpatrick said that revenue Per Available Room (RevPAR) for Limerick increased from €53 in 2016 to €59 in2017 and to €91 in 2018. Restaurant revenue grew by 33%, while pub business was up by 13%. “All of the data is telling us that Limerick is performing extremely well in all elements of the hospitality sector. Hotels pubs and restaurants are all seeing double-digit growth or more in some cases,” he said.
“One key statistic that’s jumping over across all sectors is the North American market. Spending in Limerick has massively increased over the last two years. It’s become a far more important market to Limerick than the UK market.
Other speakers to address the packed event were Orla O’Connor, Web Coordinator from the multi-award winning Limerick City and County Council website limerick.ie; Niall O’Callaghan, Managing Director, Shannon Heritage; Derek Smart, Superintendendent, An Garda Siochana; Linda Breen, Senior Analyst Southern Region, An Garda Siochana and David Fitzsimons, Retail Excellence Ireland.
The event heard that good news for Limerick on the Brexit front is that it is not as exposed from a tourism perspective to the UK market as other regions, with 11% of business drawn from our nearest neighbours. But, according to speaker Niall O’Callaghan, Managing Director of Shannon Heritage, there is still cause for concern.