Over 10% of hotels in receivership

MORE than one in 10 hotels in Ireland are in receivership, and the sector has warned the days of rock-bottom prices is coming to an end.

Food and beverage spend at Irish hotels was down 5% last year and by up to 10% at weddings. Two in five hotels said wedding sizes fell by between 5% and 10% last year.

Positive signs lay ahead for the sector, however, with close to two-thirds of hotels expecting occupancy levels to rise this year.