The latest AIB August Spend Trend report shows a mixed result in spending across the hospitality sector, following a decline in July.
The report shows that spending in hotels and restaurants was up 2% and 1% respectively in August, however, it fell slightly in pubs (-1%), during what would traditionally be a busy month.
AIB noted that August saw Storms Antoni and Betty, flash floods and fallen trees, which caused many people to stay home and avoid the 'inclement weather.'
Geographical Trends
Spending in pubs by people from Monaghan fell most (-7%) but Westmeath bucked the trend, with pub spending by people from the county up 17%.
People from Mayo had the biggest increase in spend in hotels (+13%), while people from Louth had the biggest decrease (-8%).
Spending in restaurants increased most among people from Roscommon (+4%) and decreased most among people from Limerick (-2%). Year on year spend in restaurants is up 10%.
'Inclement Weather'
"While spending increased slightly for hotels and restaurants in the month, it was down slightly for pubs, which is disappointing as summer is traditionally a busy time for the sector," John Brennan, head of SME Banking at AIB.
"Spending in restaurants rose 15% in the year which is a good indicator and demonstrates an upward trend for the sector."
"It’s also interesting to note the differences in spend across different parts of the country, for example people from Westmeath had an increase in pub spending of 17%, despite the sector being down overall."
The monthly data was compiled from 70 million debit and credit card transactions in store and online during August 2023.
