Property consultants CBRE Ireland have today released figures for the volume and value of hotels traded in the Irish market during 2018, which shows that excluding hotel investment sales, 34 transactions totalling more than €730 million between them signed during the year.
This is considerably higher than the volume of sales completed in 2017 and was boosted by a large portfolio sale during the last 12 months. Hotels that changed hands during the year include The Heritage Hotel & Spa in Killenard, Co. Laois and the Connemara Coast Hotel in Furbo, Co. Galway.
Commenting on the figures, Executive Director & Head of Research at CBRE Ireland, Marie Hunt said, "2018 was a very positive trading year for Irish hoteliers, boosted in no small part by healthy economic activity, increased air connectivity and record tourism numbers, with more than 11 million tourists having visited Ireland last year."
She added, "Interestingly, while the number of UK visitor numbers was down year-on-year, this was more than compensated for by visitors from other jurisdictions on the back of increased marketing efforts from bodies such as Tourism Ireland and Fáilte Ireland."