2018 Has Been A "Normal" Year For Hotel Transactions
Despite average room rates in Dublin reaching a record €155.75 while occupancy rates reached 89.6% and revenue per available room (RevPAR) rose 9.7% to €139.51, 2018 has reportedly been a "normal" year for hotel transactions in the wake of several years of strong turnover in the hotel investment market from distressed Nama-driven sales.
"Drying Up Of Distressed Asset Sales"
Meanwhile, Cushman & Wakefield senior economist Deirdre O'Reilly said, "Investment in Irish hotels amounted to €36.5 million in the third quarter of 2018, which brings the nine-month turnover total to €79.3 million, across just eight transactions. Compared to the same period of 2017, this is a 10% fall in the value of sales recorded. This excludes any unconventional hotel sales such as company sales, loan sales and refinances.