Radisson RED Galway has opened its doors, making it the first property of the bold, upscale brand in Ireland. Located in Galway's newest neighborhood, Crown Square, an impressive development between Moniva Road and Joyce's Road and close to Galway's city center, Radisson RED incorporates art, music and fashion to create an unforgettable stay for guests, and is an excellent fit for this famously cultural city.
Accor and the Arora Group are proud to announce the groundbreaking of the highly anticipated Sofitel Dublin Airport, a new luxury hotel set to redefine the hospitality experience at Ireland's main international gateway. The hotel will feature 412 elegantly designed rooms and suites, an all-day dining restaurant, a tea salon, and a sky bar located on the 11th floor, offering stunning views of the airport and beyond.
PREM Group has announced the appointment of Andrew Hyland as the general manager of the Osprey Hotel, in Naas, Co. Kildare.
P3 Hotel Software, a leading innovator in hotel booking solutions, has announced that Herbert Park Hotel and Park Residence, a renowned four-star boutique in the heart of Dublin, has achieved significant boosts in revenue and direct bookings by implementing P3's Custom Booking Engine.
Ludo de Jong has taken on the role of General Manager at Anantara The Marker Dublin, with a mission to further establish the hotel as the go-to destination for both social and business gatherings in the revitalized Docklands area, known for its concentration of tech and finance companies, stylish dining spots, and top-tier theaters.
Since 1824, The Shelbourne has been a warm and inviting jewel of hospitality and the setting for some of the most dramatic cultural and political moments in Irish history. Beloved by guests and locals as “Ireland’s living room,” The Shelbourne has always reflected the spirit of the city around it, playing a significant role in the literary, social, political, culinary and artistic traditions of Irish society.
For H1 2024 a total of €655M was transacted, a near fourfold increase on the approximately €173M traded in H1 2023 – this pushed transaction volumes over the past year to an all-time high of almost €790M. Activity was supported by continued good operational performance across the sector and a couple of large deals including the sales of the Shelbourne Hotel and a majority stake in the Dean Hotel Group.
Prime yields have moved modestly higher over the past twelve months but looking forward we expect them to stabilise, boosted by gradually looser ECB monetary policy with the first steps in this journey occurring in June with a 25 basis point interest rate cut. With growing appetite among investors and liquidity in the debt markets, we expect to see a gradual yield sharpening for prime assets as we progress into 2025.
Despite ongoing supply growth, the occupancy and ADR in Irish hotels remained healthy in H1 2024, with only minor softening relative to H1 2023. While RevPAR in Ireland declined by 1.2% to €125 in H1 2024, it was the 3rd-highest level in Europe. In Dublin, the occupancy reached 80% in H1 2024, the second highest in Europe, albeit a minor decline from 2023. This, combined with a 4% drop in ADR, resulted in a 5% RevPAR decrease, although 23% above pre-Covid level in 2019.
510 new rooms were delivered in Dublin in H1 while Premier Inn also opened their first hotel in Cork in January. We estimate there are currently in excess of 1,700 hotel rooms under construction in Dublin (around 6% of Dublin’s room stock) while two hotels in Cork are also due to open later this year. The new supply is welcome to satisfy growing demand, particularly in the Dublin market, albeit the increased competitiveness might constrain occupancy and ADR growth.
Ireland’s economic outlook continues to support the hotel sector. Employment hit another all-time high of 2.71 million while wages (up 4.7% year on year in Q1) are now growing in real terms as inflation (2.2% in June 2024) eases. Tourist trends also continue to be strong. Overnight trips by foreign visitors (over rolling 12-month periods) gradually rose in the first half of the year as has the average spend.
Boosted by three large-scale events during the final weekend of June, Dublin hotel average daily rate (ADR) eclipsed EUR300 for just the second time this year and sixth time in history, according to preliminary data from CoStar. CoStar is a leading provider of online real estate marketplaces, information, and analytics in the property markets.
RIU Hotels & Resorts recently completed the refurbishment of the historic Riu Plaza The Gresham Dublin. This majestic 4-star hotel offers the best of the Irish capital's tradition and history and now boasts a total of 404 fully refurbished rooms with modern, contemporary amenities.
In the heart of vibrant Dublin, Ruby proudly unveils its latest addition: the Lean Luxury Hotel Ruby Molly. This marks an exciting milestone as it becomes the hotel group's inaugural location in Ireland, offering 272 meticulously designed rooms and a generous 500 square feet space dedicated to the hotel's inviting bar and café.
UK’s largest hotel business seeks an additional 30% more rooms in Ireland as it responds to high demand and an undersupply of branded hotel rooms.
Cycas Hospitality’s growth continues into 2024 following their landmark appointment to manage The Ormond Hotel in Dublin on behalf of the Ormond Group, a leading hospitality group from Southeast Asia. This will be Cycas Hospitality’s first property in Ireland and marks another significant step in their pan-European expansion.
Dublin’s hotel occupancy was helped by the Six Nations Men’s 2024 championship and St. Patrick’s Day festivities, according to March 2024 preliminary data from CoStar. CoStar is a leading provider of online real estate marketplaces, information, and analytics in the property markets.
Our latest Ireland Hospitality Marketbeat shows that from an economic perspective, the outlook for the hotel sector remains positive – the latest Irish labor market data show an all-time high employment of 2.66 million across the economy while average weekly earnings grew by 4.6% compared to the same period in 2022, both of which supports the leisure spending outlook.
Hotel technology specialist SHR Group is proud to announce the launch of a Digital Marketing Academy specifically designed for the esteemed Future Leaders Programme run by Co-operation Ireland.
Hilton (NYSE: HLT) announced the signing of Home2 Suites by Hilton Dublin City Centre, signalling the market-leading brand's debut in Western Europe, as part of a franchise agreement with JMK Group.
Whitbread PLC, the UK's largest hotel business and owner of Premier Inn, has opened the doors to the most westerly hotel at Cork City, Ireland.
Leonardo Hotels has expanded its boutique NYX brand with the opening of NYX Hotel Dublin, which is the first of its kind in Ireland.
Whitbread PLC, the UK's leading hospitality group and owner of Premier Inn, has acquired the long leasehold interest of a development site at Sandyford Business Park in Dublin, D18.
Whitbread, the UK's largest hospitality group and owner of Premier Inn, has confirmed its most westerly hotel in Europe achieved Practical Completion last month (Friday 24th November) paving the way for opening in the early new year.