Hospitality Consultancy

Click here to view our Summary of Hotel, Tourism & Leisure Support

THE ECONOMIC CONTRIBUTION OF TOURISM-Jim Power

  • Tourism makes a very significant contribution to overall economic activity in Ireland, but its key characteristic is the economic and employment contribution it makes to parts of the country where not a lot might be happening outside of the peak tourism season.
  • Tourism businesses employ around 260,000 workers in total, which is equivalent to 11% of total employment in the economy.
  • Prior to the COVID-19 crisis, the Irish tourism industry was already under pressure due to a combination of factors. Brexit, sterling weakness and the slower UK economy have affected the Great Britain market; the global economy has been performing at a subdued pace; air access issues relating to the grounding of the B737MAX; the increase in the VAT rate to 13.5% in Budget 2019; and the cost competitiveness of the Irish tourism product has been coming under pressure due to rising prices. However, all of these issues pale into insignificance compared to COVID-19.

THE HOSPITALITY SECTOR -Jim Power

  • The Accommodation and Food Services Sector is a very important component of the Irish economy. It employs 179,800 people and has a very strong regional and rural employment footprint. It is crucial for tourism.
  • SMEs and family owned businesses dominate the hospitality sector.
  • Many of the jobs in the hospitality sector will be temporarily lost during the COVID-19 crisis. It is imperative that measures are put in place to ensure that all of those jobs can be re-created once the health crisis ends.
  • Without an adequate supply of high-quality food service businesses, the ability of tourism in particular and the economy in general to recover will be seriously curtailed. This will be a particular challenge for the rural economy.

Our team hold a mix of functional and strategic skills and knowledge enabling us to provide expert advice to our clients. We act as consultants privately to some of the leading hospitality businesses in Ireland.

We have been involved in a complete range of projects and developments including hotels, bars, restaurants and cafes.

Our highly focused reporting combined with our knowledge of the hospitality and tourism industry, enables us to add significant value to structuring, promoting and/or appraising all new ventures, either on behalf of the promoter or a financial institution.

We have developed a suite of tailored financial models and analysis sheets to produce detailed financial projections as well as related assumptions highlighting key variables and sensitivities. We can outsource the office and accounts function and deliver the business owner weekly relevant Key Performance Indicators.

We have assisted our hospitality and tourism clients in the past with management buy-outs, company restructuring, various forms of fundraising (including tax based and government grants) and strategic business reviews. Our knowledge and widespread involvement throughout Ireland has enabled us to provide a wealth of value added services to our client base operating in the region.

Hospitality Fitzgerald and partners
HospitalitySquare

Benefits to you

Our knowledge of the industry and access to up-to-date trends and developments in the sector means that we can:

  • Critically appraise an investment
  • Devise the best overall proposition for a new investment
  • Raise finance
  • Obtain the best deal for you
  • Bring essential credibility to your proposal
  • Due Diligence

Contact Cormac Fitzgerald today to discuss the needs of your business: email cormac.fitzgerald@fitzgeraldandpartners.com