Ryan Hotels said there has been a marked improvement in trade in the past few weeks and that it expects activity for the balance of the year to pick up substantially.
But, speaking at the company AGM, chairman Mr Sean Henneberry said it is too early to assess the full impact of the foot-and-mouth disease.
The effects of the foot-and-mouth crisis were particularly felt in the company’s west coast hotels.
"However, your group is well positioned to benefit from this improvement in the market place and we are optimistic about the performance for the rest of the year," he said.
Referring tothe temporary closures of its Killarney and Galway hotels, Mr Henneberry said the Killarney closure was caused byan airborne virus. The Southern Health Board gave a very positive report on the hotel's reaction to this incident, he said.
In Galway, the problem resulted from an "unacceptable breakdown in our systems," he said. An investigation took place and corrective action was taken, he added.
Mr Henneberry also said the company continues to investigate other opportunities to acquire and lease properties.