5,435 new hotel rooms for Dublin - but it's still not enough, Fáilte Ireland says
A new report predicts a shortfall of 1,100 hotel rooms in the capital by 2020, our Travel Editor writes
Dublin's hotel stock is booming, but demand will still outstrip supply by 1,100 rooms in 2020, according to a new report by Fáilte Ireland.
After years of stagnation, 5,435 new bedrooms will come on stream between 2018 and 2020, with two out of three in new hotels, according to the report, 'An Analysis of Tourism Accommodation in Dublin'.
New hotels will range from a 200+ bed Marriott Aloft opening this year to Dublin's first Hyatt Centric in 2019 and hotels by Hard Rock and the EasyGroup.
The new developments have the potential to generate 5,000 jobs and €250m in annual tourism revenue, Fáilte Ireland says.
However, it believes Dublin will still have a 1,100 room shortfall in 2020.
Dublin's capacity issues are a country-wide problem, Fáilte Ireland says, as most visitors to Ireland choose to stay a couple of nights in the city.
Almost 52,000 Fáilte Ireland-approved bed spaces currently exist in Dublin, but hotel rates have risen 9.5pc in the past year to an average of €155.75, according to recent figures by travel research company STR.
This compares compared to a European average of €115.54. Occupancy of hotel rooms in the city was at 89.6pc in the second quarter, STR adds - a high number.
“While it is great to see such positive capacity increases in Dublin accommodation, we need to ensure that our capital can cater for future demand if we are to sustain tourism growth," said Fáilte Ireland's CEO, Paul Kelly, speaking today.
Fáilte Ireland's analysis was carried out by Fitzpatrick Associates Economic Consultants. The full report is available online here.
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