There has been widespread disappointment at a decision by organisers to move the Web Summit offshore.
Founder Paddy Cosgrave has said the event will take place in Lisbon next year and will stay there for three years.
There are calls for the government and the hospitality industry to fight to bring it back; with estimates it could lose the city up to €100m-a-year.
The president of the Irish Hotels Federation Stephen McNally has said he is not all that surprised by the move.
“We’ve been aware for some time that a move was on the cards and really it is out of size and growth,” said McNally.
“You must remember when it started five years ago I think something like 400 people attended the first event and according to Paddy Cosgrave’s figures he is expecting 50,000 next year, so from a national event it has become an international event and when things become international by their nature they move cities.