According to new data released by travel research firm STR, a "lack of meaningful supply growth" is helping to fuel strong growth of room rates in the Irish hotel sector.
During the first quarter of 2018, STR found that the average daily room rate in Ireland rose 6.2% to €113.76, compared to the first three months of 2017. Furthermore, revenue per available room (RevPAR) rose 9.7% to €76.79 and the occupancy rate among Irish hotels increased 3.4% to 67.6%.
STR commented, "STR analysts note that performance is strong across the country, not just in the always popular Dublin, where RevPAR increased 7.8%."
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