Hotel assets were the top performer in the commercial property sector in the first half of the year, with 15 properties selling for a total of €655 million, nearly quadrupling the previous year’s total of €173 million, according to a report by Cushman & Wakefield.
Ryan Murphy, senior surveyor with Cushman & Wakefield said the average price per room for 833 rooms in 11 Dublin properties was €852,000, with strong international interest in the Irish market attributed to the hospitality sector’s strong performance.
Two major deals, including the sale of the Shelbourne Hotel in Dublin and a stake in the Dean Hotel Group, accounted for approximately €50 million of the total transactions.
