Harcourt owners get go-ahead for new four-star hotel
The owners of the Harcourt Hotel in Dublin have received the go-ahead for a new 152-bedroom hotel on Harcourt Street.
Dublin City Council gave Brian and Sally McGill's Olema Consultants permission to transform the existing Pinebrook House Offices into the four-star Pinebrook House hotel.
The council is dealing with a flurry of hotel applications as investors seek to address the rooms shortfall in a booming market.
In a recent report, the Irish Tourist Industry Confederation reported that there is a need for 30 additional hotels, providing 5,000 additional rooms in the capital, by 2020/21.
A submission by Olema's planning consultants - outlining the need for the hotel - points out that only three large hotels have been opened in the last decade with around 500 rooms provided at the Gibson (252), the Marker (187), and the Dean (52) on Harcourt St. The consultants state that "on balance, there has been a marginal net gain in hotel bedrooms in the past decade".
According to a recent Market Insight Report by the JLL Hotels and Hospitality Group, the existing supply of hotel rooms in Dublin has fallen significant short of prevailing demand and the under supply means a corresponding rise in average room rates which affects reputation.
The new Pinebrook House Hotel will be the sixth on Harcourt Street and will join the sister Harcourt Hotel along with Harrington Hall, Dean Hotel, O'Callaghan Hotel and Jackson Court hotel.
The conversion of the four-storey offices will include adding two storeys.
The City Council said that the proposal would be in accordance with the City Development Plan that aims to "promote and enhance Dublin as a world class tourist destination for leisure, culture, business and student visitors."
The planner also concluded that the proposed development would not have a negative impact on the streetscape.
The proposed new hotel is located at 72-74 Harcourt Street.
Olema Consultants opted to go unlimited in 2014 removing the requirement to file annual accounts for its 100-bedroom Harcourt Hotel business.
The firm's most recent accounts filed in 2013 show that the business continued to enjoy robust health. The business recorded pre-tax profits of €715,979 as the firm's gross profit topped €6.1m.