Dalata CEO Pat McCann has responded to assertions that Dublin's hotel room stock will increase by upwards of 5,000 by 2020 with skepticism, stating that the capital "hasn't a hope" of reaching such a target within the next three years.
The Irish Independent reports that McCann believes that no more 3,000 new hotel rooms will be operational in Dublin by 2020 due to insufficient funding and a lack of appropriate tradesmen impeding the speed of developments.
McCann said: "When you look at all the offices and residential that have to be built, [the hotel sector] will struggle to find builders and skilled tradesmen. There's a big challenge coming down the line on that."
Commenting on projections for hotel developments in Dublin between now and 2020, McCann added: "Next year, about 1,200 new hotel rooms will be added in Dublin. When you look forward into 2019, there's an expectation of 2,000 more rooms, but I think that number will fall. By the end of 2020, if there are 3,000 additional rooms in Dublin, it will be good going."
The CEO's statements follow reports yesterday (5 September) that Dalata recorded an 80% spike in profits, as well as a 24% rise in revenues, during the first six months of 2017.
