Some 1,300 new hotel rooms are expected to open in Dublin city this year as trading performance
growth begins to slow, property group Jones Lang LaSalle (JLL) has said.
The six per cent increase in Dublin’s room supply includes a number of new openings like the Iveagh Garden Hotel on Harcourt Street, the Devlin Hotel in Ranelagh, and the Clayton Charlemont near the Grand Canal in Dublin.
However, trading performance, measured by JLL in revenue per available room, is expected to grow by 5 per cent this year, down from 7.8 per cent in 2017.
Despite the slowdown in growth, Dublin’s hoteliers have reason to be positive as the city centre now achieves “one of the highest occupancies in Europe”, currently at 84 per cent.
In terms of investment opportunities in the hotel sector, JLL suggested that both Galway city centre and Dublin airport are ripe for growth. The group singled out Galway as its status as the European Capital of Culture in 2020 approaches, while it said Dublin airport was undersupplied in terms of hotel rooms as it experienced “unprecedented levels of passenger growth”.