A business group in Drogheda has called on the Government to implement a "revitalisation taskforce" for the town in response to a loss of hotel accommodation.
A new report commissioned by Love Drogheda BID (Business Improvement District) has indicated a direct loss of €6.18 million to Drogheda following the loss of visitor accommodation in the town.
Love Drogheda claims that there has been "significant economic repercussions for Drogheda" following the loss of hotel accommodation there.
The economic impact assessment has also indicated a €15.88 million indirect impact on the wider local economy, "based on available data".
Before 2020, the Co Louth town had 231 visitor accommodation bedrooms in five locations. Love Drogheda BID says this has been reduced by 56%.
It follows the Department of Integration entering into a two-year contract with the D Hotel earlier this year to provide accommodation for International Protection applicants.
The 113-bedroom hotel is the largest in the town.
Love Drogheda BID says that tourism and hospitality are one of the main industries in the area, which population is set to increase by up to 20,000 in the next decade on the north side of the town.
It says that the findings of the assessment highlight the long-term adverse effects on Drogheda's ability to host large scale events and attract investment.
The report has been described by the group as "deeply concerning" and points to a "critical need for intervention".
Love Drogheda BID is now calling for Government to implement targeted measures and a "revitalisation taskforce".
These measures could include things like financial assistance, business support programmes and tax initiatives to promote potential investment in the town for the development of visitor accommodation.
Trevor Connolly, CEO of Love Drogheda, said such a "revitalisation taskforce", would be charged with developing and implementing strategies to revitalise the town, attract new investment and reduce vacancy rates.
"Key objectives would include enhancing the town's infrastructure and riverfront, supporting local businesses, and promoting Drogheda as a prime location for investment, tourism and events," he said.
The manager of the Scotch Hall Shopping Centre in Drogheda has also urged the Government to "recognise the urgency of this situation and take swift action".
"A dedicated taskforce can help mitigate the economic damage, revitalise the town centre, and ensure a sustainable and prosperous future for Drogheda," said Nichola Kelly.
