A new study by Savills Ireland has found that hoteliers and developers are considering projects with 1,355 new hotel bedrooms for delivery in Cork City in the coming years.
Seven new builds and 4 extensions to existing hotels are at various stages of planning and if half were seen through to completion, it would represent an almost 30% increase on the current Cork hotel stock, which stands at 2,297 bedrooms.
Five hotels have received a grant of planning permission for the addition of 360 bedrooms. The new 165-bed Maldron Hotel on Beasley Street/South Mall is currently under construction and due for completion in 2018, while The Kingsley Hotel at Victoria Cross has received approval for 63 additional bedrooms.
Ireland’s first floating hotel has also been given the go-ahead, the 96-bed ‘floatel’ My Story MV would be situated at Penrose Quay. Elsewhere, the Montenotte Hotel on Middle Glanmire Road will add 6 new rooms to its current stock.
Commenting on the new developments, Director of Hotels & Leisure at Savills Ireland, Tom Barrett said, "The Cork hotel market has strengthened in recent years. There is now significant demand for additional bedrooms in the city and Savills expect that a number of the planned schemes will proceed. Current office development plans are very positive for the hotel sector, but certainty the Cork Events Centre proceeding is necessary for the city to exploit its true potential."