Subscriber OnlyBusiness

Hoteliers cry foul over ‘gouging’ claim; looking back warily at the 1970s; and judge rules on groceries

Business Today: the best news, analysis and comment from The Irish Times business desk

The Irish Hotels Federation will tell an Oireachtas committee today that “media hype” over alleged price gouging in the sector is wide of the mark.

Dominic Coyle's face
Dominic Coyle
Wed Jun 15 2022 - 07:13

The Irish Hotels Federation will tell an Oireachtas committee today that “media hype” over alleged price gouging in the sector is wide of the mark. IHF president Tim Fenn will say that recent reports of modest hotel rooms in Dublin charging €300 or €400 per night over coming weeks were misleading, with most rooms sold far in advance at much more modest rates. Mark Paul reports

On the subject of the rapidly rising cost of living, Martin Wolf looks back to the scary 1970s and wonders how close its parallels with our current economic position are, what are the differences and what can we learn form the mistakes made back then.

Despite the sometimes depressing headlines, Irish interest in news remains significantly higher than in Europe as a whole, the UK and the United States, according to a new study, but the numbers saying they are extremely or very interested in news has still dropped significantly over the past year — to 57 per cent, down from 70 per cent — in what researchers say may be down to Covid fatigue. Smartphones, meanwhile, have taken over from radio as younger people’s morning news fix. Laura Slattery read through the Reuters Institute for the Study of Journalism’s annual digital news report.

Doctors and dentists feature disproportionately on the latest list of tax defaulters published by the Revenue Commissioners. But the vast bulk of the settlements reached in financial terms were accounted for by a Louth oil distribution business that is now in liquidation, writes Mark Paul.

READ MORE

Plans for 881 apartments on the old Dundrum shopping centre site in south Dublin, as proposed by British developer Hammerson are not capable of delivering ‘anything approaching an appropriate mix of uses’ for the site, planners at Dún Laoghaire Rathdown County Council have told An Bord Pleanála which is deciding on one of the last strategic housing development plans that go straight to it for permission.

High Court judge Mark Sanfey sided with Dunnes Stores over the tricky issue of what is and is not a grocery item, as the retail behemoth took action to close down competition from discount retailer Mr Price at a Carlow retail park.

Speaking of discount retailers, Lidl has been ordered to pay over €21,000 to a deputy manager who was unfairly sacked and accused of theft over discounting €7.20 worth of baked goods for himself to buy just before they were dumped at the end of the day.

Eoin Burke-Kennedy reports on Legal & General Investment Management ‘s Climate Impact Pledge report which raises concerns about Ireland’s commitment to its emissions targets. One of the world’s largest money managers, L&G has taken an activist role in pushing the climate change agenda in boardrooms, he writes.

In Commercial Property, Manchester-based investment group David Samuel Properties is eyeing up a move into the retail park market in the Republic. Ronald Quinlan reports they are in talks to acquire a portfolio of three well-known regional shopping centres. US owner Davidson Kempner is guiding €67.5 million for the parks in Letterkenny, Tullamore and Killarney, which, for the UK group, would add to its five-strong portfolio of retail parks in Northern Ireland.

Fast fashion group Zara is betting big on Blanchardstown Shopping Centre expanding its store space more than threefold with a new outlet in the former Debenhams unit.

Irish Distillers has paid around €8 million ‑ roughly a third over the guide price ‑ to secure the high-profile Otter House building on Dublin’s Naas Road, adjoining its existing premises.

And finally, Hines, the US developer, is preparing to unveil a more modest plan to put 345 homes on the former Bailey Gibson lands in Dublin even though no final decision has been reached on its original plan for 416 homes on the South Circular Road site.

Stay up to date with all our business news: sign up to our Business Today daily email news digest.