Travel research company STR has released a new forecast stating that the average daily rate of Dublin hotel rooms will rise to just under €150 by 2021, with occupancy rates exceeding 85%.
The Irish Times reports that at an event in the Westbury hotel, representatives from the hotel industry were informed that UK visitor numbers are expected to decrease by 1.3% this year, while the number of travellers visiting Ireland from the US will increase by 8.7%.
In May, Dublin's average daily room rate was just under €125 with an occupancy of approximately 80%. The former figure was lower than other European cities such as Amsterdam, Barcelona and London, while the latter figure was considerably higher than the European average of 67.7%.
Get a FREE Digital Subscription!Enjoy full access to Hospitality Ireland, our weekly email news digest, all website and app content, and every digital issue.
Dublin's revenue per room was up 7% on May of 2016, with occupancy in Ireland as a whole for the first five months of 2017 also being above the European average at 73.2%.
STR noted that during the period encompassing January to May 2017, occupancy rates in Dublin were in excess of 90% for 38 days and occupancy dropped below 70% on 35 occasions. Both of these figures surpassed the statistics for the same period in 2016.