Irish businesses are getting ready to open their doors and stay open.
Similar to many other developed nations, Ireland faced significant challenges due to business closures during the peak of the COVID-19 pandemic. Despite some limited reopening attempts last year during the summer and holiday seasons, recurring spikes in COVID cases hindered the full recovery of Ireland’s bustling tourism and hospitality sectors, putting a strain on small businesses. However, with the increasing distribution of vaccines across Ireland, it is gradually becoming safer for people to venture out and socialize again. In response to this positive trend, Irish Prime Minister Micheál Martin announced two weeks ago that the country will start a phased reopening process, leaving business owners eager for their chance to reopen.
“At this point, I believe we have no option but to remain open because financially, it’s crucial for us,” shared Niall Coffey, manager of Harvey’s Point in Donegal, in an interview with CNBC.
Des O’Dowd, owner of the Inchydoney Island Lodge & Spa in Cork, emphasized the financial toll of extended closures: “Having to discard food supplies twice due to closures, including fresh produce and beer going to waste, highlights the challenges we face,” he stated in an interview with CNBC.
He added, “It is both financially draining and disheartening to repeatedly open and close, so we are hopeful that this reopening marks a definitive return to business without setbacks.”
With Irish #hotels gearing up for a busy summer season, driven by domestic tourism, what lies ahead for the industry in the medium term? Is there a demand for hotel acquisitions in the current scenario? Stay updated on the latest developments in the hotel sector (& all other property sectors) at https://t.co/TlxntFSTLf pic.twitter.com/CWc1eBYpgq
— CBRE Ireland (@CBRE_Ireland) May 8, 2021
The tourism and hospitality sectors are major contributors to employment and revenue in Ireland, leading the Irish government to recognize the need for a stimulus plan even after businesses reopen. This plan aims to support business owners through the challenging period until they can recover losses and regain a stable customer base.
