Hotel sector firmly on the map at 20pc of all commercial property transactions, JLL report reveals
JLL has released its Irish Hotel Market Update 2017. Prepared in map form, the report is considered something of a 'must have' for hotel investors, operators, developers and lenders in the Irish market.
The update provides a quick and easy-to-read reference guide for deals that have been completed and those in the pipeline.
Referring to the key findings of the latest edition, Daniel O'Connor, senior vice president within JLL's hotels division said: "Our research map shows that Irish hotels sales comprised of almost 20pc of the total Irish commercial property market in 2016, a year which delivered a record €800m of Irish hotel transactions."
"Dublin is now ranked first in terms of occupancy and ninth in terms of average rate of any major European City - it is firmly on all major hotel investors map," O'Connor added.
Offering his view on the prospects for the remainder of this year, JLL's James Wood, said: "Looking forward to the rest of 2017, we expect to see new hotel supply increase marginally in Dublin city centre, as improving hotel bed night demand fuels further hotel development.
"Our hotel map, which is now in its third year of publication, is an excellent tool to monitor the city's rapidly evolving hotel supply pipeline," Wood concluded.