The price of hotels has risen by 15 per cent in the first six months of 2015, 15 times the general rate of inflation.
A survey by booking site hotels.com found that room prices climbed to an average price of €116 in the first half of the year, a 15 per cent increase compared to the same period last year. The global rate of inflation in the same time was just 1 per cent.
Dublin hotel prices - which are currently at their highest since 2007 - continue to grow and are currently fetching an average of €128 a night, a 19 per cent increase.
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Locations along the Wild Atlantic Way such as Sligo, Galway and Cork all showed signs of increased business due to the tourism scheme, as prices there were up by 18 per cent, 10 per cent and 9 per cent respectively.
Limerick, despite a 10 per cent increase, is still the best value destination, as rooms are at an average of €82 per night.
The Hotel Price Index been met with dispute before, as hoteliers and representative bodies have questioned the accuracy of booking.com's findings. IHF president Stephen McNally rejected findings of a previous survey, explaining that the search site only accounts for one in ten bookings in Ireland.