May 2019 All Hotels

Commentary on the results

o   This report includes all hotels in the Cork, Limerick, Galway, Cork County, Dublin, Waterford and Kilkenny areas.


o   As predicted at the start of the year, May was going to be big challenge due to the Ed Sheeran concerts last year with RevPAR growth of 19.3% nationally in May 18.


o   The only city to show growth was Limerick which was the only city without an Ed Sheeran concert last year.


o   RevPAR declined 5% in the month with Limerick showing growth of 0.6% and Galway showing a decline of 10.8% being the two extremes.


o   RevPAR is still up 13.2% in May 19 versus May 17, if you decide to skip the concert driven month of May 18.


o   Occupancy was down 2% to 84.5% with YTD now down 3% at 69.7%.


o   ARR was down 2.8% at €100.72, but flat YTD at €90.16.


o   To put 2019 into perspective we have had 47 months of continuous RevPAR growth nationally, but with the vat increase in Jan 19, we now have 5 months in a row of National decline. Of course there are other factors but the numbers are the numbers.


o   I would note that the average RevPAR growth nationally in the first 6 month of 2018 was 9.7%, with the second 6 months averaging 4.1%, so I do predict some levelling in the decline in the second 6 months of the year. This decline was driven by decline in occupancy in 5 of the last 6 months of 2018.

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