Jim Murphy - PREM Group’s Managing Director » 2008

Management changes in Belgium

One thing that makes me very proud about PREM Group is the career opportunities we continue to create and our desire ,if possible , to fill these opportunities internally .This ambition is not always possible and it is also good for us as a company to bring in new blood from time to time . Yet , I was delighted to see that our Belgium Division have embraced this philosophy with the announcement of three internal promotions for the New Year .

Christel Otte has been committed to the Carlton Hotel for just over two decades. For her the time has come to have a change of environment and to move on to a different kind of hotel. A hotel where she will be able to further develop her management skills within the framework of an internationally renowned 3* brand i.e. Express by Holiday Inn Mechelen.

As a result Olivier De Vuyst will move out of the Express hotel and move into Holiday Inn Brussels Schuman. A different town, a different clientele, a different product than what he was used to during the past four years of management in Express Mechelen .

And finally Filip Caluwaert will trade his place in Brussels Schuman for Christel’s place at the Carlton. The main challenge for Filip will be to successfully implement the rebranding of the hotel into “Leopold” and to secure its position on the Antwerp hotel market . In order to do this, his experience built up during the past fifteen years in different positions in our company, and especially the six years as a manager in our Brussels hotel, will be of major help. The exact timing of the transfers will become clear in due course as the handovers first need to be planned so as to suit everyone’s agenda. Christel, Olivier and Filip, congratulations to the three of you ! We wish you every success in your new position’s and I am confident that the changes for both you and your respective new hotels will be changes for the better.

Author: Jim Murphy | Posted on 30. December 2008 at 19:24 pm | Filed in General, Prem Group in Europe | 0 Comments

Tourism Is still big business for Ireland in 2008

ITIC has reported a 3% drop in overseas visitors to Ireland for 2008 with associated revenue estimated to have dropped by 4%, or close to €200 million.
Nonetheless tourism remains a massive business, with 7.5 million overseas visitors generating an estimated €4.7 billion this year. When revenue of €1.5 billion generated by the domestic market is added, this amounts to a €6.2 billion industry. This is a creditable performance given the global financial and economic ills which existed for most of the year in all our main source markets.
2009 looks like another difficult year, but the ITIC report is positive about the outlook beyond that. The report calls on the Government to consider a temporary reduction in VAT for a one year period, saying that the effect of such a reduction would improve the overall competitiveness of the economy and provide a boost to consumer spending.

Author: Jim Murphy | Posted on 23. December 2008 at 14:44 pm | Filed in General, Prem Group Ireland | 0 Comments

EUROPEAN HOTEL CONSORTIUM ACQUIRES HOTEL DEVELOPMENT OPPORTUNITY IN THE HEART OF BRUSSELS

The European Hotel Consortium (EHC) – a joint venture between PREM Group and Goodbody Stockbrokers - today announced that it is to invest €27 million in the acquisition and refurbishment of a property in the centre of Brussels for conversion into a boutique four-star hotel. The building which is located on Rue du Marais, Brussels will be rebranded under the PREM Group owned Leopold Hotels brand and is due to be completed in July 2010. The acquisition forms part of the EHC, which comprises 13 three- and four-star hotels across Belgium and France. The hotels are branded as Holiday Inn, Holiday Inn Express, Crowne Plaza, Ramada and Ramada Plaza and are based in Hasselt, Mechelen, Antwerp, Ghent, Ostend, Bruges, Liège, Brussels and Calais. The EHC plans to expand the chain further with acquisitions anticipated in Poland, Germany and The Netherlands in the near future. Commenting on the acquisition, Jim Murphy, Managing Director, PREM Group said that despite the current economic conditions, Brussels was one of the few euro zone cities that experienced growth in 2008. “In 2008, Brussels saw continued growth in the hotel sector with average occupancy rates up by 3.3% to 70.8%. Hotels in Brussels are considered less expensive compared to other capital cities in Europe and a stable corporate demand from European Commission conferences helps to keep hotel performance strong. This acquisition further strengthens our foothold in Europe and allows us to continue to build up our property portfolio both at home and abroad.”

Author: Jim Murphy | Posted on 20. December 2008 at 15:33 pm | Filed in General, Prem Group in Europe | 0 Comments

A smart web presence - Killeen House Hotel

One of my favourite on line newsletters arrives in my inbox every few months from Killeen House Hotel in Killarney,County Kerry ,Ireland . The hotel owners ,Michael and Geraldine Rosney are a great example of how small independent hoteliers can use the web without breaking the bank . The newsletter not only promotes the hotel but is also a one stop tourist information site for anyone visiting Ireland . The jokes are worth looking at as well . Check it out at :

http://www.killeenhousehotel.com/newsletters/Newsletter8.html

And if you are visiting Killarney you could do worse than stay with Michael and Geraldine ,they are great hosts .

Author: Jim Murphy | Posted on 12. December 2008 at 12:00 pm | Filed in General | 0 Comments

PREM launch European Hotel Consortium Newsletter

prem-ehc-december-final.pdf

PREM Group manage 12 hotels in Belgium and 1 in France on behalf of the European Hotel Consortium . We have just released the latest EHC Newsletter which features the following articles, among others ;

- Details of an exciting new acquisition in Brussels

- Updates on our refurbishment programmes

- The re-branding of some of our hotels

- The redevelopment of a car park site in Antwerp

The full newsletter can be accessed at the following link :

http://www.premgroup.com/images/prem%20ehc%20newsletter.pdf

Author: Jim Murphy | Posted on 11. December 2008 at 17:35 pm | Filed in General, Prem Group in Europe | 0 Comments

IRISH TOURISM - WHERE WILL OUR CUSTOMERS COME FROM ?

Where lies the best potential for Irish Tourism ?

It’s interesting to see that the top four countries (UK, US, Germany, France) produce 72% of our visitors, and 67% of associated revenue. While there will be some shifts in the coming years, it seems improbable that any newcomer will break into that quartet in the next decade.
Just to confirm how change is a constant, if gradual thing, let us recall briefly how Irish tourism has developed over the past 50 years or so. There was an industry before that but of no great economic consequence.
In 1960 there were 941,000 overseas visitors. Almost 90% came from Britain, 7% from North America, 3% from Continental Europe, and elsewhere.
In 1969 about 1.5 million overseas visitors arrived. About 75% came from Britain, 18% from North America, and 8% from Continental Europe. It can be assumed that most of these were visiting friends and relatives.
The 1970s was a dreadful decade with visitor numbers growing by a mere 300,000 over 10 years to 1.8 million in 1979. Revenue that year was estimated to have reached £220 million.
The nationality mix changed substantially however with visitors from Britain dropping to 62% of total, North America down to about 16% and Continental Europe grew to 20%.
The 1980s weren’t great either, particularly the early 80s, but annual visitor numbers grew by 56% to just under 3 million in 1989, with attendant revenue of almost £700 million. Virtually all of this visitor growth came in the last 3 years of the decade. 1987 marked the first year that tourism revenue reached £1 billion, when domestic holidays were added in.
Britain dropped down to 61%, Continental Europe remained at 20%, while North America dropped back to 15%.
Things improved substantially in the 1990s. Visitor numbers doubled to 5.9 million by the end of the decade, and revenue grew by 164% to £1.8 billion.
And by 1999 the visitor mix had changed again with Britain down to 58%, North America up slightly to 16%, Continental Europe grew to 22%, and other 4%.
In many respects you could say that this is an improving mix, with dependence being spread more evenly. But currency movements are a significant determinant of travel patterns and the shifts in the euro value against the pound and the dollar has not always worked to our advantage, particularly in recent years.
Last year 7.7 million visitors came and spent €4 billion. For the first time ever, less than 50% of those visitors came from Britain, at 49%. Continental Europe has grown to 33%, while North America provided just under 14%. About 4% came from elsewhere.
Of the €4 billion revenue, Britain accounted for 35%, Continental Europe also 35% and North America 20%. New and developing markets accounted for the balance.
There have been three revolutions in the travel and tourism industry in the past 50 years. The first came in the 1960s in the shape of cheap air charter travel and package tours. Rising incomes enabled people of modest means to travel more and to take advantage of the all-inclusive trips.
The second was the advent of the Internet which has allowed countless millions to book flights, hotels, car hire, and package tours without ever going near a travel agent.
The third was the emergence of budget air carriers which coincided with the generally good economic times of the last 15 years. Flying became a commodity at low prices, regional airports all over Europe boomed and you were as likely to meet an Irish stag party in Dubrovnik as in Dingle. A variation of the low cost model spread to long haul flights, and Christmas shopping for some was as likely to be done in Tiffany’s New York as in Tesco’s in Tralee.
And then? And then subprime followed by the credit crunch.
The current global economic uncertainty makes short term forecasting difficult, if not unwise. But what we can reasonably be sure of is that this downturn will end, and tourism and travel will prosper again in the growth cycle which will follow.
The probability is that Continental Europe will consolidate its position as Ireland’s largest source market, by visitor numbers and revenue. Germany will be the market to power that growth, with France, Italy, Spain and the Nordic countries also showing some progress. Tourism Ireland’s soon to be completed review of the European markets will outline a new strategy for growth from this area.
Britain will remain our largest single country market for a few more decades, if not always. Recent performance by this market has been less than optimal, particularly in the pure holidaymaker category. The present market review which is underway is timely therefore.

The US economy will recover, and with that recovery will come renewed growth in visitor numbers and revenue for Ireland. Breaking the elusive 1 million visitor landmark came very close in 2007 with 975,000 U.S. visitors. It seems evident now that this milestone will not be reached just yet. Maintaining at least the present level of direct air services will also be crucial to reaching that magic million number.
These are extraordinary times, but consumer confidence will eventually pick up, and travel and tourism will prosper once more. When? Probably by 2011. In the meantime tight business management and a concentration on the top 5 markets will lead the industry to a recovery and growth path. Britain, Continental Europe, particularly Germany and France, the United States and the domestic market are still where it’s at.

Author: Jim Murphy | Posted on 4. December 2008 at 09:47 am | Filed in General, Prem Group Ireland | 0 Comments

Hoteliers Welcome Commitment by BAnk Of Scotland (Ireland)

2008

Initiative Should Act as Template for other Financial Institutions The Irish Hotels Federations (IHF) today welcomed the allocation by Bank of Scotland (Ireland) of e1 billion in credit facilities to customers, including e100 million for the hotels sector. The IHF states that this is an extremely positive move that will assist hoteliers and guesthouse owners trade through the current challenging economic climate and sets a model for other financial intuitions to follow suit. John Power, Chief Executive, IHF, states, “The move will give a much needed boost to the economy and relieve pressure being experienced on the ground by hotels, which require substantial seasonal banking facilities. Bank of Scotland, previously ICC Bank, has historically been a major provider of credit for the hospitality sector and has for many years been a dynamic banking force meeting the needs of hotels and guesthouses around the country. Its management continue to demonstrate an indepth knowledge of the industry’s requirements. We appreciate it continued commitment to Irish businesses and see this as a major step towards increasing the availability of bank credit facilities in Ireland.”

“Bank of Scotland’s move should act as a template for other financial institutions to follow and should now form part of a coordinated approach by the Government and banks to ensure an adequate flow of credit to businesses and to safeguard the economy. The Government must show clear leadership to support Ireland’s tourist industry, which accounts for 4% of GNP with some 250,000 people depending on its success for their livelihoods.”

Author: Jim Murphy | Posted on at 09:38 am | Filed in General, Prem Group Ireland | 0 Comments

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