It's expected that the average daily hotel room rate in Dublin will rise to between €132 and €140 by the end of 2017.
The Irish Times reports that new data released by travel research company STR reveals that room rates in the capital will increase by between 5.5% and 7.5% in the second half of this year. Dublin's average room rate during the first six months of 2017 was €132.60, with the average rate for the country at large amounting to €122.85.
These new statistics were released by STR as a reaction to a report published by Hotel Reservation Services last week that claimed Dublin's average room rate had risen 9.2% to €213 over the last year. If true, this would mean that Dublin is the second most expensive location for hotel accommodation in Europe after Oslo.
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However, STR's figures affirm that Dublin is actually the eight most expensive place to stay in Europe, with the continent's highest daily rate being recorded in Paris as €226.13.
Occupancy rates in the Irish capital, on the other hand, were found to be the highest of the locations STR surveyed at 80.71%, but the data also suggested that this figure is likely to decrease by 2019 due to the addition of upwards of 1,000 new hotel rooms to Dublin's current stock. The occupancy rate for the entirety of Ireland during the first half of 2017 was said to be 75.4%, with occupancy outside the capital being the primary driver of the country's strong occupancy performance, jumping three points to 67.3%.