MyHome.ie Blog
  • MyHome Living
  • News
  • RetroFit Hub
  • Buyers Advice Hub
  • Selling
  • Renting
  • Mortgages
  • Property Report
MyHome.ie Blog
  • MyHome Living
  • News
  • RetroFit Hub
  • Buyers Advice Hub
  • Selling
  • Renting
    • Mortgage Learning Center
    • Calculators
    • Best Mortgage Table
  • Property Report
    • All Properties
    • Houses For Sale
    • Apartments For Sale
    • Available To View
    • Overseas Holiday Homes
      • Properties For Auction
      • Upcoming Auctions
      • BER Assessors
      • Property Conveyancing Solicitors
      • Pre-Purchase Surveyors
    • Find Agents
    • All Properties
    • Houses To Rent
    • Apartments To Rent
    • Available To View
    • Share
      • Irish Holiday Homes
      • Overseas Holiday Homes
  • New Homes
    • For Sale
    • To Rent
    • Auction
      • Residential Land
      • Commercial Land
      • Farm Land
      • Farms
      • Sites
    • MyHome Living
    • Buyer Advice Hub
    • Property Report
    • Property Price Register
    • Price Changes
  • Mortgages
    • Rental
    • Holiday Homes
    • Commercial
    • Sharing
Advertisement
  • Home
  • Uncategorized
  • CBRE Research Bi-Monthly Report - The Hotels & Licensed Market
Uncategorized
Nov 4, 2011 - 16:12

CBRE Research Bi-Monthly Report - The Hotels & Licensed Market

MyHome Content Studio
By MyHome Content Studio
Share this article
Facebook Share Twitter Share Linkedin Share Email Share Whatsapp Share
CBRE Research Bi-Monthly Report - The Hotels & Licensed Market

While transactional activity is somewhat less than what had been anticipated earlier in the year, the hotel industry itself, particularly in Dublin, is showing great resilience with steady growth maintained over the last 12 months.

This was evidenced by the most recent STR Global statistics on occupancy and RevPar for the Dublin region and the most recent visitor numbers from the Central Statistics Office, which showed that tourist numbers are up 12% year-on-year. In addition, a new report issued this month by PricewaterhouseCoopers has forecast that occupancy rates in Dublin hotels are likely to grow by 6.0% in 2011 and by a further 2.8% next year.

A global Irish homecoming event, to be known as “The Gathering”, announced at the recent Global Economic Summit in Dublin Castle, is to be staged in 2013. This and other new tourist initiatives such as the recent launch of the www.irelandbyappointment.com website and the filming of a new Tourism Ireland TV campaign are designed specifically to attract more tourists to Ireland and should be welcomed and encouraged.

From a property perspective, negotiations are continuing on the sale of a number of hotel properties around the country including Kilkea Castle Hotel in Kildare; the Killerig Hotel in Carlow and the Pearse Hotel on Pearse Street in Dublin. There is a particularly encouraging level of international interest in the Morrison Hotel in Dublin city centre, which was recently brought to the market on the instructions of receivers for NAMA, guiding €25 million. To date, there have been over 70 expressions of interest in this prime hotel asset, which is trading very well, with enquiries from all over the world. The first round of bids for this hotel is due in the next couple of weeks.

Advertisement

While there is disappointment at the slow rate at which hotels are being brought to the market, once some of the more high-profile hotel transactions are completed, we expect to see more hotel properties being formally launched for sale.

In the pub sector, there is still good demand for prime properties as was evidenced by the recently agreed sale of the Pier House in Howth, which had been guiding €1 million. The well-known Stout Bar in Rathmines, which had been guiding €2 million, generated considerable interest and has now gone to best bids.

The focus for the next two months is to conclude negotiations on a number of hotel and licensed properties before the traditional year-end.

Subscribe to our weekly MyHome Living eZine today

Processing your request...

You are subscribed now!

<

  • Tags
  • Dublin Castle
  • hotels
  • licensed
  • market
  • Morrison Hotel
  • NAMA
  • pub sector
MyHome Content Studio
By MyHome Content Studio
Share this article
Facebook Share Twitter Share Linkedin Share Email Share Whatsapp Share

Helpful Links

Find your home on MyHome
Read more Articles
Calculate what you can afford to borrow
Welcome to the Retrofit Hub
Advertisement
Advertisement

Related News

What is a Heat Pump?
Uncategorized

What is a Heat Pump?

Feb 27, 2025
Living Cities Initiative
Uncategorized

Living Cities Initiative

Jan 14, 2025
Digital Services Act
Uncategorized

Digital Services Act

Mar 31, 2024
Avant Money and Finance Ireland announce new rates
Uncategorized

Avant Money and Finance Ireland announce new rates

Dec 09, 2021
Average deposit of first-time buyer was €52,000 in first half of the year
Uncategorized

Average deposit of first-time buyer was €52,000 in first half of the year

Dec 07, 2021
Frequent And Popular Searches
MyHome.ie Blog
Help
Jobs
About
Equality Guidelines
Brand Safety
Contact
Terms & Conditions
Cookie Policy
Privacy Policy
Digital Services Act
Sitemap
© Copyright MyHome.ie 2025
Advertisement