For a comprehensive review of the Europe market, click below:
HVS In-Depth Europe Hotel Valuation Index:   2026 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | 2012 | 2011 | 2010 | 2009 | 2008 | 2007 | 2006 | 2005 | 2004 | 2003 | 2002 | 2001

Dublin, the capital and largest city in Ireland, is home to around 1.6 million people as of 2025, making it not only Ireland’s most populous city but also one of the largest urban centres in the British Isles. As the country’s economic engine, Dublin boasts a diverse and dynamic economy, with key sectors including technology, finance, tourism and life sciences. The city also serves as the European headquarters for numerous multinational corporations, such as Google, Facebook, PayPal and Airbnb. In 2024, Dublin’s office market saw renewed momentum, with increased interest from major global firms. The city was ranked second for Economic Potential in the European Cities and Regions of the Future 2025 report by fDi Intelligence, a division of the Financial Times. Dublin’s strong economic fundamentals and sectoral diversity are expected to provide resilience and support continued long-term growth.

Dublin's hotel market was characterised by strong demand prior to the pandemic, with international visitors accounting for up to 80% of the city's tourism mix. The sharp contraction in RevPAR during the pandemic years gave way to a solid recovery from April 2022 onwards, gaining further momentum through 2023 on the back of rising occupancy and stronger average rates. After two consecutive years of growth, momentum eased in 2024, with both occupancy and average rates coming under modest pressure, nudging RevPAR down by around 2%. In real terms, this adjustment brought performance closer to 2019 levels. Two structural factors weighed on performance: a steady expansion of hotel supply, growing at a compound annual rate of around 3% between 2019 and 2024, alongside the reversal of the hospitality VAT reduction, which returned from 9% to 13.5% in September 2023, matching levels seen pre-pandemic. In 2025, Dublin's hotel market showed signs of stabilisation and modest growth. Occupancy edged up by about two percentage points establishing the high record of the decade. ADR remained flat year-on-year, suggesting that the market is still absorbing the impact of the VAT increase and supply additions.

Dublin currently has a substantial pipeline of hotel developments, with roughly 9,800 rooms on the way, equivalent to about 29% of the city’s existing supply. Independent hotels account for approximately 59% of these projects, while around 62% are positioned in the economy segment, with the rest spanning from upper midscale to luxury tiers. About 74% of the pipeline is scheduled for completion within the next two years, and nearly half of all planned rooms are already under construction. Notable upcoming openings include the 105-room The July Dublin Capel Street in August 2026, the 412-room Sofitel Dublin Airport in December 2026, and the 215-room Premier Inn Jervis Street and the 229-room Premier Inn O’Connell Street, both opening early next year.

In 2025, notable hotel transactions in Dublin included the sale of the 272-room Ruby Molly to Deka Immobilien for €86 million (€316,000 per key); the acquisition of the 774-room Citywest Hotel by the Government of Ireland for €148 million (€191,000 per key); and the portfolio of 31 Dalata Hotels across the UK and Ireland acquired by Pandox, 12 of which are located in Dublin (2,600 rooms), with the price per key ranging from around €311,000 to €449,000 depending on the property.

Despite a resilient market, hotel values in Dublin declined by 2.4% in 2025, according to our 2026 European Hotel Valuation Index – remaining marginally below the levels recorded in 2019.

ADR, Demand, Occupancy, RevPAR, and Supply Projections:

ADR Change
Market Demand Change
Hotel Occupancy Increase/Decrease
RevPAR Change
Market Supply Growth

Change In Value For Market: (€Euro)

Dublin RevPAR Change (€Euro)

Dublin RevPAR (€Euro)

For more information, please contact:

	Sophie Perret, MRICS, MBA Managing Director [email protected] +44 0 7725781037 (m)
	Maxime Gauthier Senior Associate [email protected] +44 0 7593572865 (m)