With deal values of €900m and several big sales pending, Irish hotels have been in demand in 2024
Consider hotel trading performance. Last year, the Irish hotel market posted RevPAR growth of more than 14 per cent, with growth inSo far this year, however, Irish hotel RevPAR is flat, year-on-year, while in Dublin, it is trending down by about 3 per cent.
On the deal side, our research shows more that 2,000 keys have already changed hands across Ireland in 2024, representing about €900 million in gross deal volume. Given total deals across all commercial property sectors of between €2 billion and €2.5 billion this year, the hotel sector accounts for about 40 per cent of total deal volume – and therefore represents the most active sector of the market in 2024.
There are numerous trends that deserve mention in 2024, whether it be the lifestyle hotel, best embodied by the Dean Hotel Group, or investors’ insatiable thirst for luxury Irish hotels. However, instead of cracking open the champagne this Christmas, I will opt for a can of beer because, for me, 2024 is the year of the lowly hostel., which was the most valuable hostel to ever sell in Ireland, at about €30 million.
In 2025 my expectation is that hotel trading performance will recover and return to growth. As much as I would like hotel deal volumes to remain elevated, I expect transaction levels to fall somewhat, to about €750 million, in 2025 – still a healthy level.
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