Irish hotels are selling like hotcakes this year

Hotel sales in the first quarter of the year are up a whopping a hundred and fifty per cent, with positive trends set to continue in this part of the market, based on one estate agency.

Savills said today that thirteen hotels worth almost €85 million have been sold so far this year in Ireland. This compares to a total of six, worth €34 million, within the first quarter of last year.

The agency said that while the volume and value of sales up to now are already ahead of last year, the figures do not factor in the number of hotels that are also now sale agreed.

Significant hotel sales within the first three months of this year included the Hilton Hotel Dublin for about €30 million and the former Clarion Dublin Hotel Airport Hotel, plus Doonbeg Golf Resort, both in the location of €15 million.

Tom Barreett, Head of Hotels and Leisure at Savills stated the recent IPO by Dalata Hotel Group and the emergence of funds targeting hotel acquisitions need to continue to drive demand for hotels in prime locations.

“Combined with a steady flow of hotels coming for sale, we expect the volume and value of hotel transactions in 2014 to exceed the particular €200 million of sales this past year, ” he said. “Based around the first three months and our presence of what is coming to market, we all expect sales to exceed €300 million this year. ”

The company said the recent overseas visitor numbers are also a positive indicator for the hotel property market with an 11. 3 per cent increase in the entire number of trips to Ireland between December 2013 and February 2014 compared to 12 months earlier.

Want to avoid Property Tax fees and penalties? Better get moving

Cyprus was still imposing post-bailout cash withdrawal limits until today


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Hotel sales in the 1st quarter of this year are upward a whopping 150 per cent, with beneficial trends set to continue in this area of the market, according to one estate company.

Savills said today that 13 hotels worth almost €85 million have been sold up to now this year in Ireland. This even compares to a total of six, worth €34 million, in the first quarter of last year.

The company said that while the volume and value of sales so far are already ahead of this past year, the figures do not factor in the number of hotels that are also now sale agreed.

Significant resort sales in the first three months of the year included the Hilton Hotel Dublin for approximately €30 million as well as the former Clarion Dublin Hotel Airport terminal Hotel, and Doonbeg Golf Vacation resort, both in the region of €15 million.

Tom Barreett, Head of Hotels and Leisure at Savills said the recent BÖRSEGANG (ÖSTERR.) by Dalata Hotel Group as well as the emergence of funds targeting resort acquisitions should continue to drive need for hotels in prime areas.

“Combined with a stable flow of hotels coming available for purchase, we expect the volume and value of hotel transactions in 2014 in order to exceed the €200 million of sales last year, ” he stated. “Based on the first three months plus our visibility of what is coming to market, we expect sales in order to exceed €300 million this year. ”

The company said the particular recent overseas visitor numbers may also be a positive indicator for the hotel house market with an 11. 3 per cent increase in the total number of trips in order to Ireland between December 2013 plus February 2014 compared to 12 months previously.

Want to avoid Real estate Tax penalties? Better get moving

Cyprus was still imposing post-bailout cash withdrawal limits till today

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