Subscriber OnlyBusiness Today Newsletter

Is the perceived hotel room rip off real?

The best news, analysis and comment from The Irish Times business desk

The study looked at hotel room prices at the time of a Bruce Springsteen concert in Dublin.

Peter Flanagan's face
Peter Flanagan
Tue Apr 16 2024 - 06:48

The expense of Dublin hotel rooms during big events is not unusual compared with cities across the world typically exhibiting similar pricing patterns, a report examining the potential for so-called price gouging in the sector has found. “Many hotel markets, including Dublin’s, simply struggle to facilitate the extra demand pressure that comes with large-scale events,” the research found. Mark Hilliard reports.

The professional jobs market has tightened significantly over the first three months of the year, with the numbers both of openings and of jobseekers falling by almost a third on the same period last year, according to Morgan McKinley’s latest Quarterly Employment Monitor. Emmet Malone has the details.

Emmet also reports that a restaurant closing in Ireland can cost the Government up to €1.36 million and on average involves the loss of 22 direct jobs, a new report commissioned by the Restaurants Association of Ireland to be published on Tuesday suggests.

Could AI be soon writing your favourite soap or sitcom? Laura Slattery ponders the rise of the borg in the creative industries.

READ MORE

Central Bank of Ireland governor Gabriel Makhlouf has highlighted the risks posed to the global financial system from funds and other non-bank vehicles, calling for greater global co-ordination among policymakers and regulators. Eoin Burjke-Kennedy has the governor’s comments.

About 130,000 VHI members will be forced to change their healthcare cover, with the insurer set to axe some of its most popular plans next month. AS Colin Gleeson reports, the plans VHI is to withdraw are its Health Plus Extra plan (€3,400 per adult); Health Plus Access (€2,574 per adult); Health Plus Excess (€2,471 per adult); and Health Access (€2,276 per adult). Meanwhile Conor Pope explains what it all means for customers.

Colin also reports that Glanbia is to acquire US-based peer Flavor Producers for an initial $300 million (€281m), in what is new CEO Hugh Maguire’s first major deal.

Businessman Paul Coulson’s Ardagh Group has secured at least $1.04 billion (€980 million) of loans from US alternative asset manager Apollo to refinance bonds that are due for repayment next year and mop up some of its riskiest debt at a discount to its original value. Joe Brennan reports.

Digicel, the mobile network over which Denis O’Brien recently surrendered control to creditors, has named experienced industry figure Marcelo Cataldo as chief executive. Barry O’Halloran reports.

New Beginning, the debt advisory group working to provide social and affordable housing claims a decision by a funding partner to halve payments for its day-to-day operations from €20 million to €10 million will destroy the group.

Fertiliser prices in Ireland have come down 45 per cent in the past year, while feed and energy prices were also lower, easing cost pressures on farmers, Central Statistics Office (CSO) figures show, even as potato prices surged. Eoin has the details.

In Your Money, Fiona Reddan looks at the tax implications of financial gifts to your children, while Dominic Coyle answers questions on the differences between annuities and retirement funds, as well as how to make sure your family members benefit equally when you die.

Finally singer Flo McSweeney tells Tony Clayton-Lea if she is a saver or a spender.

Stay up to date with all our business news: sign up to our Business Today daily email news digest. If you’d like to read more about the issues that affect your finances try signing up to On the Money, the weekly newsletter from our personal finance team, which will be issued every Friday to Irish Times subscribers.