Shannon Hotelier Brands Soaring Insurance Premiums As Stark Warning For Sector

The vice chair of the Shannon branch of the Irish Hotels Federation has expressed concerns over the rising costs of insurance premiums within the sector. Irish hotels and guesthouses reported a 24% increase in the price of their premiums between 2020 and 2022. A survey carried out by the IHF found that 84% of hoteliers reported concerns about the impact of insurance costs on their business. Co-owner of the Shannon Springs Hotel, Dermot Kelly, says rising premiums are detrimental to all facets of the hospitality sector.