Hotel Sales Make Significant Impact On Irish Commercial Property Market: JLL
Irish hotel sales comprised of almost 20% of the total Irish commercial property market in 2016, according to JLL's Irish Hotel Market Update 2017.
Prepared in map form, JLL said the update provides a reference guide for deals that have been completed and those in the pipeline.
"Our research map shows that Irish hotels sales comprised of almost 20% of the total Irish commercial property market in 2016, a year which delivered a record €800m of Irish hotel transactions," commented Daniel O'Connor, senior vice president within JLL's hotels division, as reported by the Irish Independent.
"Dublin is now ranked first in terms of occupancy and ninth in terms of average rate of any major European City - it is firmly on all major hotel investors map," he added.
JLL's James Wood, added: "Looking forward to the rest of 2017, we expect to see new hotel supply increase marginally in Dublin city centre, as improving hotel bed night demand fuels further hotel development."