Hotel occupancy across Dublin down by over 90% (IE)

Hotel occupancy across Dublin down by over 90% (IE)

Hotel occupancy across Dublin is down by over 90%, according to the latest data by Savills. The company has predicted a 32% drop in Dublin’s hotel development pipeline as a direct result of COVID-19. 4,000 new hotel bedrooms have been added to the city’s stock over the past 10 years, with over 80% of these coming on-stream in the past 3 years. However, from March 2020 to the end of 2022, Savills has reduced its forecast supply of new hotel bedrooms in Dublin by 32%, to just over 4,000, with over half of those expected in 2021.


Tom Barrett, Director of Hotels at Savills Ireland commented: “Just a few weeks ago, before the current restrictions, Savills visited Dublin hotel construction sites to observe physical progress. Based on these visits – and our own analysis – we expect hoteliers, developers and investors will complete most projects that have commenced construction, although the delivery and opening dates will slip.”


Savills analysis found:

  • The probability of opening is greatest for hotels that are already significantly completed, with a greater risk of delay and repurposing for sites that have not commenced or are in the very early phase of development.
  • For the balance of 2020 openings (1,150 bedrooms), over 90% of these new hotels have the top floor in place or have full facades/glazing in place. However, if construction sites are closed for longer than expected, some of these hotels could slip into 2021.
  • For 2021 openings (2,200 bedrooms), only 25% have reached the top floor of construction, but very significant work has been completed on all of these hotels.
  • The hotels which we forecast might open in 2022 are at early stages of construction, therefore Savills has significantly reduced its overall forecast for that year.
  • With a reduced development forecast for Dublin hotels, we believe new hotel development in Cork, Galway, Limerick and regional Ireland will be more difficult to deliver in the coming years

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