It is cheaper to live full-time at the Hilton hotel than it is to rent out an average apartment in the centre of Dublin.
As hotel prices tumble in reaction to the damage inflicted on the Irish tourism industry by Covid-19, the latest data published this week shows that rents in Dublin remain at record high levels after standing static over the past 12 months.
That's despite emergency Government measures clamping down on evictions and drastic rent increases.
It means that hotel room costs are now dipping below that of the rent sought for many city apartments, including some studios (one room) currently advertised in parts of the city centre. This includes apartments in the Dublin 1 area where the Hilton Garden Inn is located.
A room can now be had at the Hilton on Custom House Quay for €54 per night. This works out at €1,642 per month. When asked if the hotel would consider a further discount for booking a full month, staff would not rule it out and asked that we apply to management by email with our proposal.
According to the latest data from the Residential Tenancies Board (RTB) published this week, the average overall rent in Dublin now stands at €1,706 per month.
That represents a rate of €56 per night. At the same time, a number of standard city centre studios and one-beds are being advertised for rent at €1,750 and upwards. That represents a nightly/daily rate of about €58.
A range of well-known four-star city hotels are now offering rooms at less than €60 per night, while boutique B&Bs and guesthouses in affluent locations such as Dublin 6 are also offering rooms at that price level or below.
It means that savvy renters can conceivably live in plush room suites in top residential locations where homes can cost €2m-plus. Furthermore, they can do so for significantly less than the price of rent being asked for in prime locations.
While homeless families have controversially been housed in budget hotels, full-time residency in higher-end hotels was once common practice in Ireland until the 1970s, particularly among the retired and better off.