The macro-economic outlook for 2014 is considerably brighter than it was at this time last year. Significant progress has been made in restructuring Ireland’s sovereign debt and bringing the fiscal deficit under control. This has cemented Ireland’s reputation as a place to do business and has opened up access to new capital opportunities. Led by a rebounding labour market and a recovery in the global economy, Ireland emerged from recession in mid-2013. This recovery is now well established and, according to the latest forecasts, the economy is likely to expand by around
2.1% this year and a further 2.6% in 2015.
The more upbeat macro-economic context is likely to have positive implications both for trading performance in the hotel industry and for the transactional market in hotel assets.
Source : Savills