While recent years have seen a decline in the number of pubs in Ireland, British chain JD Wetherspoons has announced it will open 30 pubs here, starting this year.
Improved returns in nine pubs in the North, plus the reduction in property prices here are cited by The Irish Times are the two major reasons why the chain is set to open its doors south of the border.
Group chairman and founder Tim Martin says the company intends to open between three and four pubs this fiscal year with a view to eventually expanding this up to 30 in the longer term, with an opening in Cork expected in the coming months.
Wetherspoons almost opened in Dublin about a decade ago after purchasing a furniture warehouse in Capel Street for more than €2 million, but that was at the height of the Celtic Tiger with the chain selling the premises for a loss.
The chain opened its first pub in England in 1979 and enjoyed profits of £1.28 billion for the tax year up until July, so clearly their model in the UK is working.
The Drinks Industry Group of Ireland announced earlier this week that almost one pub in the country was closing its doors every day and we will have to see if the chain experiences similar success here as they have had in the UK in an industry that has been hit badly in recent years.
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