Irish Hotel Room Rates Up 8%, As Occupancy Rates Continue to Rise
Irish hotels recorded occupancy rates of 81.6% for April of 2017, representing an increase of 3.7% on the same month last year.
However, Dublin specific figures remained unchanged, with hotels in the capital recording occupancy rates of 86%.
According to The Irish Times, the data, which was published by STR, reveals that the average daily rate of a room in Ireland during April rose by 7.7% from 2016 to €122.60, and even though Dublin saw a slightly smaller rise of 5.5%, room costs in the capital were actually higher at €129.04.
Nationwide, revenue per available room increased by 11.7% to €110.10, with the figure for Dublin being €111.01, representing an increase of 5.4% on the same period in 2016.
In the 12 months to the end of April, occupancy rates for the whole of Ireland were 70.3%, with the average daily room rate being €114.76. The revenue per available room was lower at €80.67, but all of these figures were still higher than those for the previous year.
Occupancy rates for Dublin hotels for the same period were at 75.5%, with the average daily rate for a room being €122.38 and the revenue per available room being €94.41, which represents an increase of 6.2% on the twelve months to the end of April 2016.
Investec analysts stated that "the Dublin RevPAR data is broadly in line with our expectations in the year to date…In terms of regional Ireland, April RevPAR was strong and was boosted by the timing of Easter. However, given the relatively small sample size we would point out that STR data for regional Ireland can be volatile."
Investec research suggests that revenue per available room in Dublin could grow by 6.5% by the end of 2017.