The loss of over 90 bedrooms at the Mount Murray Hotel in Thursday's blaze is a big problem for accomodation on the Island.
That's the belief of Chief Minister Allan Bell.
Mr Bell says as it seems a re-build could take over a year, it's going to leave a big hole in the sector in the interim.
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Tributes paid to 'true champion' of Isle of Man music scene
Raz McVeighty, 'local legend' and Bushy's icon, dies
Road closures in St John's for Tynwald Day rehearsal
Ceremony to take place on Monday 7 July
People urged to avoid closed areas at South Barrule
One incident put an individual and operators in 'serious danger'
IOM Chamber of Commerce criticises wage policies
Report says public sector workers earn nearly £200 a week more on average than those in private sector