Hotel Sales Reach €160m In 2013
Published on Feb 10 2014 10:52 AM in Hotel
One of Ireland's leading real estate service advisors say that almost €160 million worth of hotel transactions were completed last year.
Speaking last week at the the Hospitality Summit during the Hospitality Expo at the RDS Dublin, CBRE's head of hotels John Hughes said that there were 33 hotel property deals struck last year.
Surprisingly, Mr Hughes revealed that 28 of these sales were for hotels outside of Dublin.
"While much of the press focus has concentrated on the sale of Dublin hotels, which is due to the high prices achieved, the reality is that the market for hotels is nationwide," The Irish Independent quote him as saying.
14 of the hotel sales occurred in Munster, nine in Leinster, three in Connaught and two in Ulster.
The Independent also noted the geographical spread of buyers in Ireland last year, with purchasers coming from the US, Far East, Middle East, Europe and the UK.