Hotel room rates in Dublin will return to their 2007 peak of €109 a night next year on the back of growing demand and a lack of new supply, PwC claims in a new report
.a report published today predicts.
PwC’s yearly European Hotel Forecast shows that, in 2014, guests paid an average of €95 for a room. This year they can expect to be charged €102. If the rate climbs to €109 next year, costs will have risen by almost 15 per cent between 2014 and 2016.
The average revenue hotels earn from each room is also on the rise. Last year, it was €75, this year the consultants expect it to be €81 and it is set to rise to €88 in 2016. The figure was just €57 in 2011. Dublin will have the highest revenue growth rates in Europe in 2015 and 2016, say PwC..