According to new data from global commercial real estate services company Cushman & Wakefield, €583 million was exchanged across 20 hotel transactions in Ireland last year. This made 2019 the year with the second highest recorded value of hotel sales.
71% of the value of last year's sales was concentrated in the Dublin area, while the east and midlands region accounted for 22% of the value.
Overseas buyers accounted for 77% of the money that was exchanged during hotel transactions last year.
"A Strong Year"
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The Irish Times quotes Cushman & Wakefield associate director of trading assets Isobel Horan as saying, "2019 proved to be a strong year in terms of transactional levels, with a particularly strong trend of luxury and Dublin city centre hotels changing hands. Supply has remained steady with the delivery of approximately 1,300 keys into the Dublin market."
© 2020 Hospitality Ireland – your source for the latest industry news. Article by Dave Simpson. Click subscribe to sign up for the Hospitality Ireland print edition.