By Sarah Pickering, Senior Journalist
Hospitality Ulster’s Colin Neil expressed his sympathy for investors who could lose out on over £4 million after a recent decision was made to sell the George Best Hotel in Belfast.
“The impact of losses suffered by the investors cannot be understated and for many will be a devastation blow” said Hospitality Ulster’s Colin Neil.
He continued,
“however, the hospitality industry in Northern Ireland remains a positive investment opportunity and with plans to double tourism in Northern Ireland, there will be significant returns for investors in the future.”
The hospitality industry felt hardship during the Covid-19 pandemic with hotels shut for the majority of the UK wide lockdown.
The industry also made many attempts to receive vital funding from the government to help pay staff salaries and pay bills with minimal income due to the pandemic. Thankfully, the government did eventually provide different grants to the sector to aid this recovery from Covid.
The industry still has a long way to go with their recovery plans and to fully achieve pre-pandemic levels; Staycations and all-Island tourism has also helped to speed the recovery time for hotels across the provence.
Members of Belfast City Council are now calling for the unused George Best Hotel site to become a historical centre to maintain the integrity of the building, whilst also transforming a derelict eyesore in the heart of Belfast city centre.
