Dublin the Second Best Hotel Market in Europe
Dublin has been named the second best performing hotel market in Europe.
The Irish Times reports that the 2016 hotel valuation index, by global hotel consultancy HVS, shows RevPAR of Dublin hotels increased by 13.4% in 2015. Values rose by 13.2% in 2014.
Ireland's capital came in second place behind Madrid and ahead of Manchester, Athens and Birmingham.
The European average was 3.6 per cent. Geneva was one of the “losers” with a growth in value of just 1 per cent, while Paris saw almost no change in value following November's terrorist attacks.
Dublin is also expecting an additional 5,000 rooms to enter the market over the next five years.
IHF president Joe Dolan has also called for a five-year product development plan for Irish tourism; "Our industry has benefited enormously from positive economic tailwinds from North America and Britain in recent years, contributing to impressive growth in overseas visitor numbers. It's vital that we focus on achieving sustainable growth while safeguarding our market share against potential risks."