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Irish Examiner
2 hours ago
- Irish Examiner
Hilton hotel group lifts profit forecast as US travel demand recovers
Hotel group Hilton Worldwide lifted its 2025 profit forecast on expectations of a complete recovery in domestic travel demand in the US after a sharp pullback earlier this year. But the company's projection for third-quarter profit came in below analysts' expectations, sending the hotel operator's shares down more than 2% on Wednesday. Some travel companies, including Delta Airlines and United Airlines, recently said US travel demand had steadied after a setback in March driven by President Donald Trump's trade war. "We believe the [US] economy... is set up for better growth over the intermediate term, which should accelerate travel demand and, when paired with low industry supply growth, unlock stronger revenue per available room," said Hilton chief executive Christopher Nassetta. 'On the development side, we achieved the largest pipeline in our history, and we remain confident in our ability to deliver net unit growth between 6% and 7% for the next several years,' he added. International tourists from Canada and Europe have cut down US visits. Hilton's second-quarter US room revenue fell 1.5% compared to a year earlier. However, total revenue for the quarter ended June 30 was $3.14bn (€2.69bn), up 6.3% from a year earlier.. Hilton operates 15 hotels in Ireland including the Montenotte Hotel and the Ballymaloe House Hotel — both of which are in Cork. Bernstein analyst Richard Clarke also raised concerns about the company's ability to meet its 6% to 7% projection for 2025 net unit growth, which refers to the number of rooms added to the company's portfolio. Hilton will need a record second half to meet even the low end of its full-year net unit growth forecast, prompting concerns of a potential downgrade, Mr Clarke said. The company forecast its full-year adjusted profit to be in the range of $7.83 and $8 per share, compared with its earlier forecast of $7.76 to $7.94. The Waldorf Astoria-parent, which last week reopened its flagship hotel in New York after eight years of restoration, posted an adjusted profit of $2.20 per share in the second quarter, beating Wall Street estimates of $2.04, according to data compiled by LSEG. Reuters Read More Davy to focus more investment on European markets amid volatility in US
Irish Times
3 hours ago
- Irish Times
Pharma companies unprepared for production shift amid US tariffs
Just one in seven pharmaceutical companies could shift production to the United States within three months should US tariffs on imported drugs become too onerous, new research from consultancy Sia has found. The research, which is based on interviews carried out in June and July with seven senior executives at leading pharmaceutical firms and contract manufacturers, shows none of the organisations feel fully prepared for the potential disruptions that tariffs could cause. The majority of the organisations surveyed, based between Ireland and the US, said they are still in the early phases of scenario planning and are hesitant to commit to major changes while trade negotiations remain unresolved. The US government is reportedly considering tariffs of up to 200 per cent on pharmaceutical products from the EU, China and India – a move that could reshape global drug supply chains and significantly increase costs. [ Donald Trump says pharmaceutical tariffs could reach 200 per cent Opens in new window ] The research found the proposed tariffs would likely result in immediate cost increases, potential drug shortages and long-term consequences for innovation. Higher operational costs 'may reduce investment' in research and development, 'slow the delivery' of new treatments and 'force price increases' that would ultimately affect consumers, according to the findings. Ireland's role as a strategic export hub is also emphasised in the research. In May alone, the value of pharmaceutical and medicinal product exports from Ireland rose by nearly three-quarters to €13.7 billion compared to the same month last year. The research also shows growing momentum behind US-based manufacturing. More than $170 billion in investment has been announced or redirected toward domestic pharmaceutical capacity over the next five years, with 57 per cent of organisations planning to increase their US footprint. 'This shift reflects a broader trend toward regionalisation of supply chains and reduced reliance on geopolitically sensitive markets,' according to the report. Research from 2022 showed US pharma manufacturing facilities were operating at around 50 per cent capacity. Contract development and manufacturing organisations are operating around 55 per cent capacity, suggesting a 'near-term opportunity for expansion without the need for major infrastructure spend'. Meanwhile, staffing and talent development 'still present potential challenges'. However, 'challenges remain' in terms of workforce availability and production agility. The complexity and regulatory requirements of pharmaceutical production mean that relocating manufacturing operations is a 'slow and resource-intensive process'. With US patients already paying more than $12,000 per year on average for healthcare – the highest rate globally – the industry is bracing for additional economic pressure. Niall Cunneen, associate partner Ireland and Britain at Sia, said the pharmaceutical industry has 'long benefited' from highly optimised global supply chains, but the research shows 'these very strengths have become vulnerabilities' in the face of rapidly shifting trade policy. 'The potential Trump tariffs represent a genuine stress test – not just of operational flexibility, but of long-term strategic resilience,' he said. Mr Cunneen said many pharma companies are still waiting for regulatory clarity before making major decisions. 'That hesitation is understandable, but risky,' he said. 'In today's environment, waiting too long to act could mean losing access, margin or momentum.' 'What we're seeing is a growing pivot toward domestic investment, with more than $170 billion of US-based capacity already committed over the next five years.
Irish Examiner
5 hours ago
- Irish Examiner
Relief for the industry or a blow to public health: Mixed reaction to delayed health warnings on alcohol
There was a mixed reaction to the Government confirming it would delay putting health warnings on alcohol products, from 'breathing space for a sector under pressure' to 'a blow for public health in Ireland'. At Cabinet on Tuesday, ministers heard that the introduction of health warnings on alcohol labels was being delayed by two years after concerns were raised about the impact of their implementation in the current global trading environment. It comes against the backdrop of fears for Irish business from US trade tariffs propagated by President Donald Trump, with Fine Gael ministers in particular such as Paschal Donohoe and Peter Burke raising concerns in recent months. Part of the landmark Public Health Alcohol Bill, which has seen the introduction of minimum unit pricing and advertising curbs, the measure will now proceed next year as planned but at a 'more appropriate time', Cabinet heard. Ibec organisation Drinks Ireland welcomed the move and said it provided 'much-needed relief' for drinks producers in this country. 'Our members are currently contending with major trade uncertainty, new tariffs on product entering our most important export market, the US, and threats of further tariff escalation,' it said. 'In these uncertain times, companies must be as competitive as possible to survive in international markets. This means tackling regulatory burden and reducing costs for producers.' It claimed that commentary that the now-deferred changes would not impact exports, as the labelling requirement would only have applied here, was 'misguided and disingenuous'. 'The introduction of supplementary requirements uniquely for the Irish market would have placed additional pressure on all companies operating here, and this would of course be more pronounced for SMEs,' it added. The move was also welcomed by the Irish Whiskey Association, which called it a 'reprieve' as some members would have seen packaging and labelling costs increase by over 35%. Meanwhile, Alcohol Action Ireland said it was disappointed by the Government's decision and said the measure was aimed at informing consumers about the health risks that come with alcohol consumption. 'It's not just that the government is allowing its own groundbreaking legislation to be undermined by the very industry it is designed to regulate,' its CEO Sheila Gilheany said. This delay will have real-life consequences that will be felt by ordinary Irish people every day. Labels are crucial to efforts to reduce incidences of cancer, liver disease, and foetal alcohol spectrum disorder in Ireland and indeed to change the conversation about this product which is heavily marketed as risk-free and essential to everyday living.' Ms Gilheany added that the step-by-step approach to implementing aspects of the Public Health Alcohol Bill has been slow and allowed a space where misinformation has flourished. She also criticised the failure to date to introduce stricter curbs for advertising allowed by the law, which would restrict the content of such adverts to 'facts, stripping out the industry myths which are used to recklessly promote alcohol consumption'.
