CATEX WEB BANNER 1200X133 V2

CATEX plans November return
Following 523 days of forced closure for exhibition and trade fair organisers, CATEX – Ireland’s lar...

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Tourism Needs Sustainable Step Change
 The long-term viability of the tourism industry necessitates a step change, says NUI Galway ac...

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Hospitality Employees Denied Rights
Evidence of significant breaches of basic employment rights to hospitality workers has emerged from ...

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Third Level Courses for Hospitality Workers
A new suite of third-level education programmes has been launched to encourage the retention and rec...

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CATEX plans November return
Tourism Needs Sustainable Step Change
Hospitality Employees Denied Rights
Third Level Courses for Hospitality Workers

News

Ryanair Makes €1bn in H1

 Ryanair saw its first half profits soar by 37 per cent to €1 billion, on the back of a “bumper summer” and fuel savings, as it forecast that full year profit will be at the upper end of its €

oleary

 1.175bn to € 1.225bn range.
 
In the six months to September 30th 2015, revenues at the airline rose by 14 per cent to €4bn. Traffic grew 13 per cent to 58m as load factor jumped 4 percentage points to 93 per cent, while average fares rose 2 per cent as unit costs fell by 6 per cent. When fuel is excepted, costs were flat.

Dublin 10 on Business City List

Dublin has been ranked dublin10th on Cvent’s inaugural list of the top 25 cities for meetings and events in Europe for 2015.  Cvent, a leading cloud-based enterprise event management platform, developed the ranking based on meeting and event booking activity in the Cvent Supplier Network, one of the world’s largest and most accurate databases of detailed venue information.
 
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Sligo Clarion for Sale

The four-star Clarion Hotel, Sligo has been brought to market by Savills with a guide price of €7m.

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 With value in the Dublin market drying up, regional hotels such as the Clarion are becoming increasingly attractive to investors.
 Bidders are likely to include Dalata, which currently operates the hotel.
Earlier this month, Dalata bought the Clarion Hotel in Cork for €35.1m in a record deal for the Cork market.
 The 162-room hotel, which has been in operation on the site of the former St Columba’s psychiatric hospital in the centre of Sligo town since 2005, is being sold by Savills on behalf of receiver Aiden Murphy of Crowe Horwath.
 The hotel was placed in receivership in 2012.
 
 

Refugees for Disused Hotels

Refugees arriving in Ireland over the coming months may be  housed in empty disused hotels, Justice Minister Frances Fitzgerald has confirmed.
 The first dozen refugees from Syria are expected to arrive here in the coming weeks, it was also confirmed, after being relocated from camps in Greece and Italy.
 Up to 700 offers from the public to house refugees arriving here are still being considered. Various properties are being examined by the Irish Red Cross, including vacant hotels, Ms Fitzgerald explained.
 

€245m value on Hostelworld

Hostelworld, the Irish travel website, has announced final details of its stock market floatation with an IPO valuing the company at €245 million. The shares have begun conditional trading this morning, rising some 5 per cent above the issue price.

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It has priced 71,718,432 ordinary shares at 185 pence per share. The dual flotation will see stock trade on both the Dublin and London markets.
Today’s offer is expected to raise €173.7 million in net proceeds and is believed to have been over-subscribed. The US private equity firm Hellman & Friedman will immediately hold just under 19.8 per cent of the stock.
 
Hostelworld group comes to the market debt free and cash generative.
Its founder Ray Nolan sold the business to Hellman & Friedman in 2009 for €202.5 million. Mr Nolan ultimately realised €100 million from the deal.
 

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