Dublin’s hotels continue to attract buyers due to strong trading performance, ranking highest in Europe for hotel occupancy (83pc) and seventh in revenue per available room in 2023, as per CBRE research
CBRE reports that Irish hotel property transactions reached a record quarterly value of over €600m in Q1 2024, indicating a potential €1bn in sales for the year.
Major deals included the sale of a majority stake in Paddy McKillen Jr’s Dean Hotel Group for €350m and the Shelbourne Hotel acquisition by Archer Hotel Capital for €250m, surpassing total annual volumes for 2023 in just three months.
Hotels currently on the market include the Slieve Russell in Co Cavan priced at €35m and Mount Juliet in Co Kilkenny with a €45m guide.
The full-year outlook for 2024 is optimistic, with annual hotel investment expected to hit around €1 billion, buoyed by demand, macro indicators, and upcoming large-scale events in Ireland.
Strong investor interest in European hotels was evident in CBRE’s 2024 European Hotel Investor Intentions Survey, with over 90pc of respondents planning to maintain or increase their capital allocation to the sector, focusing on value-add and opportunistic strategies.
