Property consultants CBRE Ireland have today released figures for hotel spend in the first quarter of 2018 showing that 4 hotel sales totalling almost €199 million transacted in the Irish market in the year to end of March - almost half the volume of spend recorded in this sector in the entire year in 2017.  
  
The property experts expect to see significant improvement in this situation in 2018 with several high-profile hotel properties expected to be offered for sale (both on and off market) over the next few months.

Some of these sales will have been fast-tracked by Capital Gains Tax Waiver scheme changes announced in last Autumn’s Budget, whereby assets purchased after 2011, that originally had to be held for a seven-year period in order to trigger a capital gains tax waiver, can now be sold after a four-year hold period.
  
Hotel transactions that completed in the first quarter include:
The sale of the McWilliam Park Hotel in Claremorris, Co. Mayo
The sale of Citywest Hotel in Dublin
The sale of the Hilton Garden Inn Dublin Custom House as part of the Amaris portfolio
The sale of the Radisson Blu Hotel in Sligo
  
Commenting on the research, Lisa Keogh from the hotels team at CBRE Ireland said, "Although there were only 4 hotel sales completed in the Irish market in the first three months of 2018, the overall spend was very healthy with almost €199 million transacted in the three-month period. Following a year in which transactional activity in the hotel sector was constrained by a shortage of product, particularly in the Dublin market, we expect to see significant improvement in this situation in 2018."

Source: www.businessworld.ie