Property advisor, Savills Ireland has today released figures which show 24 new hotels, comprising 4,500 rooms will be delivered in Dublin by the end of 2023.
It is expected that 2,100 rooms will complete by the end of this year with 1,600 expected in 2022 and 800 in 2023 – a 50% increase on the 3,000 rooms delivered between 2018 and 2020. According to Savills, Dublin hotel occupancy for the first 6 months of 2021 was 20%, with full-year occupancy expected to grow closer to 30% - down from 82% in 2019.
New hotel openings in Dublin this summer include the Hampton by Hilton Four Courts, Beckett Locke in the North Docklands next to the 3Arena, The Wren – located in the centre of Dublin between Grafton Street and Dame Street – and Keavan’s Port Hotel on Camden St. The 4-star Holiday Inn Dublin Airport and the Zanzibar Locke were the only two new hotels to open in Dublin since Covid-19 hit Ireland 17 months ago.
Commenting on the figures, Director of Hotels and Leisure at Savills Ireland, Tom Barrett said, "Despite an increase in the number of hotels in Dublin since 2018, the market – pre-Covid – remained significantly under supplied, resulting in high room occupancy and low availability. This was damaging the city’s reputation – and its ability to compete with other European destinations. However, with local and inbound tourism expected to return to pre-pandemic levels in the next 2 – 3 years, Dublin’s increased supply of hotel rooms will provide value and choice, which will be good for Irish tourism."
Source: www.businessworld.ie
