Room rates are down by 5 per cent in Ireland for the month of November compared to the previous month, while prices across Europe have slumped.
According to hotel search site trivago's Hotel Price Index, the average hotel room cost €97 in November, compared to €103 in October. This is still an increase on 2014 prices, however, up 8 per cent from €90.
Prices in the capital showed an 8% month-on-month decrease from €158 to €145, while Athlone (-16%), Galway (-12%), Cork (-12%) and Wexford (-12%) also showed significant drops.
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Meanwhile, Irish residents making trips overseas can expect to make savings as prices across Europe have dropped significantly for November. Based on the 50 most popular European cities on trivago, hotel prices have dropped by an average of -15% in comparison to last month.
The biggest drops came in popular destinations such as Venice (-44%), Barcelona (-32%), Florence (-30%) and Rome (-30%).
Despite the drop in prices in Dublin, prices increased by an average of 35 per cent for dates of the U2 gigs in the 3Arena. Rooms cost an average of €196 on the 23, 24, 27 and 28 November, with the latter showing the highest jump to €239 - 65% higher than the monthly average.