Waterford Hospitality Faces Quite January After Busy Christmas Season
After a bustling Christmas period, the hospitality sector in Waterford is experiencing an unusually quiet January, according to local business owner Jim Flash Gordon. Gordon, who owns Revolution and Oscars bars in Waterford City, described this January as the worst since 2008.
“January, in my opinion, has been the worst since 2008. We’ve had a brilliant December and a terrible January,” Gordon told WLR News.He attributed the downturn to frequent whether warnings, which have kept customers at home.”The weather warnings are orange and yellow every othre day. The weather wasn’t too bad, except for one day. Talking to publicans, restaurateurs, and retailers, I think we had a really good Christmas, despite the economic outlook and cost of doing business.”
Despite the challenges, Gordon remains optimistic. “We’re thankful for it because we as business owners are always thinking ahead to the future,” he added.
The hospitality sector in Waterford may soon receive a boost, as the government has announced plans to restore a reduced VAT rate of 9% for certain services, including restaurants, cafés, general catering, and hairdressing. This change is expected to take effect on July 1, 2025, as part of the upcoming budget.
According to figures released by the Department of Finance, lowering the VAT rate to 9% for the entire hospitality industry would cost €764 million annually. This reduced rate was previously in place during the COVID-19 pandemic, providing much-needed relief to businesses. The current VAT rate of 13.5% was reinstated on September 31, 2023, affecting hotel and lodging services as well.
| Key Points | Details |
|—————-|————-|
| Current VAT Rate | 13.5% (as September 31, 2023) |
| Proposed VAT Rate | 9% (effective July 1, 2025) |
| Affected Services | Restaurants, cafés, catering, hairdressing, hotels, and lodging |
| Annual Cost of Reduction | €764 million |
For the latest updates on Waterford’s hospitality sector and other local news, tune into WLR News on the hour or download the WLR App for on-demand updates.
As businesses navigate this challenging period,the proposed VAT reduction offers a glimmer of hope for the future of Waterford’s hospitality industry.
Interview with Jim Flash Gordon,Local Business Owner & Operator
Waterford’s Hospitality Sector: A Quiet January After a Bustling Christmas
Interviewer (I): Good day,Jim. Thanks for taking the time to speak with us today. Could you start by giving us an overview of how the hospitality sector in Waterford is faring this january?
Jim Flash Gordon (JFG): Hi there. Well, January has been quite a contrast to december. We had a brilliant Christmas period, but this month has been the worst as 2008 for my bars, Revolution and Oscars, in Waterford City.
I: That’s quite a shift. What do you attribute this downturn to?
JFG: I think the frequent weather warnings have played a meaningful role. We’ve had orange and yellow alerts almost every other day, which has kept customers at home. The weather wasn’t even that bad, except for one day. I’ve spoken to other publicans, restaurateurs, and retailers, and we all seem to agree that we had a really good Christmas despite the economic outlook and increased costs of doing business.
I: Despite the challenges, you remain optimistic. Why is that?
JFG: As business owners, we always have to look ahead. We’re grateful for the busy Christmas period, and we’re hopeful that things will pick up soon. There’s also some positive news on the horizon that could help our industry.
I: You’re referring to the proposed VAT rate reduction, I presume?
JFG: Exactly. The government has announced plans to restore a reduced VAT rate of 9% for certain services in the hospitality sector, including restaurants, cafés, general catering, and hairdressing. This change is expected to take effect on July 1, 2025. This could provide much-needed relief to businesses in our sector.
I: That’s indeed good news.According to the Department of Finance, lowering the VAT rate to 9% for the entire hospitality industry would cost €764 million annually. How do you think this reduction will impact Waterford’s hospitality industry?
JFG: I believe it will be a significant boost for our industry.A lower VAT rate means customers will have more disposable income to spend,which could lead to increased footfall and spending in our bars,restaurants,and other hospitality venues. It’s a glimmer of hope for the future of our industry in Waterford.
I: Jim, thank you for sharing your insights. Where can our readers tune in for the latest updates on Waterford’s hospitality sector and other local news?
JFG: Thay can tune into WLR News on the hour or download the WLR App for on-demand updates.
I: Thanks again, Jim. We appreciate your time and the valuable insights you’ve shared with our readers.
