Property consultants, CBRE Ireland have today released figures for hotel spend in the first nine months of 2019 showing that 16 hotel sales totalling more than €304 million transacted in the Irish market in the year to the end of September.
Recent hotel sales include the sale of Druids Glen Hotel & Golf Resort and the Central Hotel in Dublin. According to CBRE, demand continues to outstrip supply, particularly for hotels in Dublin city centre.
The property consultants say there are several large hotel transactions currently at various stages of negotiations and legals which are due to complete before year-end and which will boost annual spend. Hotel spend in 2018 reached more than €757 million in 21 individual sales.