BUOYANT half yearly results from the Ryan Hotels grouping this week do not bear out fears that overcapacity of hotels and high accommodation prices put Irish tourism in danger of pricing itself out of the market. There are seemingly sufficient high spending visitors among the back packers to ensure profit for those in the business.

Growth continues apace at Ryan Hotels, with half yearly returns this week showing a 31 per cent improvement in pre tax profits to £1.6 million generated on a more modest 5 per cent growth in turnover at just under £14 million. Chairman Conor McCarthy said that both Irish and continental hotels performed well with group occupancy rates at a high 77 per cent.

Mr McCarthy says the trading outlook remains favourable with the upward trend in business likely to continue. Shareholders can lie back and enjoy the view with a 25 per cent increase in their interim dividend.