Europe -  Dublin

Dublin has become an IT hub in Europe with more than 100 overseas software companies setting up home in the city, in addition to the presence of other electronics, technology, online retail and social media businesses such as LinkedIn, Amazon, Google, Facebook and Twitter. Pharmaceuticals is also a significant business in the city, with the headquarters of Alkermes, Merrion Pharmaceuticals and the Tech Group (West Pharma) driving hotel room night demand. With a favourable tax regime, the resultant volume of foreign direct investment is causing office rents to rise, which is being addressed by the substantial supply of new office developments across the city. Considering Dublin, alongside Amsterdam, is becoming more important for companies serving the EU currently located in the UK, this increased demand is likely to continue into the near future.

To absorb this increased demand, Dublin is slated for an additional 3,500 new hotel rooms by the end of 2019, with almost 90% of new supply coming from new hotels. This increase is equal to a 15% rise in supply on the existing stock. Hotels under construction include the Clayton Hotel on Charlemont Street and the Maldron Hotel on Kevin Street.

In terms of transactions, only one was registered: the sale of the Carton House Hotel just outside of Dublin by the Mallaghan & Kelly families to Irish-American businessman John Mullen for €57 million (€350,000 per key). Overall hotel transaction volume in Ireland, however, increased by 50% (from a low level) and also included MHL Collection acquiring The Radisson Blu Hotel & Spa in Galway from Jerry O'Reilly for €50 million (€190,000 per key). 

Change In Value For Market: (€Euro)

Legend
Significant Value Increase: Greater than +10%
Moderate Value Increase: Between +3% and +10%
Stable Values: Between -3% and +3%
Moderate Value Decline: Between -3% and -10%
Significant Value Decline: Less than -10%

Dublin RevPAR Change (€Euro)

Dublin RevPAR (€Euro)

For more information, please contact:

Sophie Perret, MRICS, MBA
[email protected]
  • +44 20 7878 7722 (w)
Simon Hulten
[email protected]
  • +44 020 7878-7775 (w)