Dalata CEO Believes Dublin Faces Hotel Room Undersupply Until At Least 2022
Dalata CEO Pat McCann has said he believes that there will be an undersupply of rooms in the Dublin hotel market for at least another three years as a result of construction cost inflation and more expensive funding.
Speaking to The Irish Independent, McCann said he expects that only 1,200 of a projected 1,600 new hotel rooms will open in Dublin in 2019 and he dismissed suggestions made by estate agency Savills that 3,000 new rooms will open in the capital next year.
The Dalata CEO asserted, "Two things have happened: building inflation for material and labour will probably make some of these projects questionable. What you'll find then is that funders will start to question whether they make sense or not. That's going to be the challenge."
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