CBRE Ireland has released figures for the volume and value of hotels traded in the Irish market during 2018, which shows that excluding hotel investment sales, 34 transactions totalling more than €730m between them signed during the year. This is considerably higher than the volume of sales completed in 2017 and was boosted by a large portfolio sale during the last 12 months. Hotels that changed hands during the year include The Heritage Hotel & Spa in Killenard, Co. Laois and the Connemara Coast Hotel in Furbo, Co. Galway.
Irish Hotel Spend 2007 - 2018
According to Marie Hunt, Executive Director & Head of Research at CBRE Ireland, “2018 was a very positive trading year for Irish hoteliers, boosted in no small part by healthy economic activity, increased air connectivity and record tourism numbers, with more than 11 million tourists having visited Ireland last year. Interestingly, while the number of UK visitor numbers was down year-on-year, this was more than compensated for by visitors from other jurisdictions on the back of increased marketing efforts from bodies such as Tourism Ireland and Fáilte Ireland”.
