The average daily rate (ADR) for a hotel room in Ireland increased to a record €209 in May, which a 3.5% rise from the previous monthly record, according to CBRE Ireland, and as reported by RTE.ie.
Details
As reported by RTE.ie, CBRE said the ADR across all Dublin hotels in 2023 to date is approximately €170; occupancy rates in Dublin during the period covering January to May has been 78% on average; €91 million worth of hotel transactions consisting of six deals were completed in Ireland during the period covering April to June; and €135 million of capital was deployed on Irish hotels during the first half of 2023.
Statement By CBRE Ireland Director And Head Of Research
RTE.ie quoted CBRE Ireland director and head of research Colin Richardson as saying, "Private investors and family offices are particularly active in the current market.
"The hotel sector remains attractive to institutional investors and lenders given the strong trading performance of both Dublin and regional hotels."
Hoteliers Focus On Developing Future Leaders In Sector
The above news follows last month's news that, focussing on leadership, career development, diversity and wellness, Irish hoteliers from across the country gathered in Portlaoise for an Irish Hotels Federation (IHF) conference called "Shaping Future Leaders (within the sector)".
The conference, which took place at the Midlands Park Hotel, was part of the IHF's wider "Shaping Brighter Futures" programme, aimed at supporting career development and nurturing people within the sector.
Read More: Hoteliers Focus On Developing Future Leaders In Sector
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