Press Release – 11th September

PRESS RELEASE

Analysis of Self-Catering Sector in Ireland – Report by Jim Power

€256.8m Threat to Wild Atlantic Way Economy

A report commissioned by the Irish Self-Catering Federation and compiled by economist Jim Power has found if the 6,585 short term rental units located in the nine counties on the Wild Atlantic Way were utilized in the long-term rental market the combined tourism loss in those counties would be €256.8m.

The report also found that if all 1,858 short-term rental units were to be removed from the Kerry tourism offering, this would impose an annual loss of €72.4 million on the tourism economy in the county.

The CSO shows that in 2019 10.9 mil bed nights were spent by overseas visitors renting self-catering houses and apartments in Ireland. The first Collaborative Economy Platforms Report from Eurostat was published in 2023 stating that there were 6.47 mil guest nights worth €323.5 mil per annum.  Clear data on the Short-Term rental sector is difficult to obtain and the Register for STR will show clearly the economic value of the sector. The demand for tourism accommodation in Ireland will increase in the next decade, not least due to Climate change and a wide choice of self-catering should be nurtured.

The report found that there is a concentration of self-catering accommodation along rural coastal areas, particularly the Wild Atlantic Way and owners are concerned that the Short-Term Tourist Letting Bill (2022) could decimate the self-catering sector.

Based on data from Failte Ireland released yesterday.

Quote Jim Power: “The self-catering sector has been one of the best performing sectors along with inbound tour agents. Self-catering might be the savior of the Tourism industry. It is clear from all data available that the self-catering sector is an incredibly important component. This is particularly the case in rural areas where is rarely availability of hotel accommodation. the short-term letting bill needs to be very careful that it doesn’t destroy a vital component of the Irish tourism product. 10731 Short-term letting properties have been identified as suitable for long-term letting. The removal of those properties from the short-term letting market would have a devastating impact of rural activity”.

NOTE FOR EDITORS

See full report attached

WHAT IS THE ISCF?

The Irish Self-Catering Federation (ISCF) is the sole representative and lobbying

body for owners of self-catering properties in Ireland and represents approximately 6,717 units across the country. The ISCF has called for a Register for STR since 2017

BACKGROUND TO REPORT

The self-catering sector is dominated by small operators. A survey of ISCF

Members this year (2024) suggest that almost 64 per cent of operators own one property and almost 92 per cent own up to four properties.

The EU introduced the Register for STR Bill in 4/2024 and each EU country has to have a central data base on Short-term rental, with Fáilte Ireland as the statutory body to establish a new register of short-term letting properties. 2 Pervious attempts by Government have been linked to the Government’s ‘Housing for All’ plan, establishing a new register of short-term letting properties with the goal of ensuring that housing stock is used to best effect in areas of housing need. The Short-Term Tourist Letting Bill (2022) is making provision for the registration of short-term tourist lettings which arises in the circumstances where the quantity and type of accommodation offerings for tourists that are advertised as available

outnumber those businesses that are registered and known to Fáilte Ireland. Any

party offering accommodation on a short-term basis to tourists, referred to as ‘short- term tourist letting’ (STTL), will have to be registered on a register and hold a valid registration number issued by Fáilte Ireland.

Once legislation is enacted, property owners advertising short-term tourism accommodation for periods up and including 21-nights will have a statutory obligation to register their property with Fáilte Ireland. No analysis was compiled by Government to establish the economic effect in rural areas of Ireland or the effects of existing restrictions and new legislation.

ENDS

Report author Jim Power is available for interview

Máire ní Mhurchú CEO ISCF – CEO@iscf.ie 087 3306 306

Derek Keogh Chairperson ISCF – derek@iscf.ie 087 619 4599