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Published on : Wednesday, August 30, 2017
The annual Crowe Horwath hotel industry survey shows that the average room rates in Dublin, Ireland rose at about 15 per cent in 2016.
The average rate in Dublin is now €128, rises up from almost €112 last year and well ahead of the previous record of €121, set in 2006.
The average hotel rate in Dublin is €104. In the midlands, it is €91.40, up 8.6 per cent, while prices rose 10 per cent to €93.25 in the southwest.
The occupancy rates of the comfortable hotels are the indicator of the boom. The hotel sector is at full stretch.
The occupancy of the comfortable and luxury hotels of more than 82 per cent in Dublin means that the city’s hotels are full about 300 nights of the year.
The average occupancy elsewhere in the Ireland runs at up to 69 per cent, with the midlands recording the largest annual increase.
The escalating rates of hotels of Dublin were bought for knockdown prices by foreign investors. This will bring to renew the focus on to whether the sector really needs continued stimulation via a 9 per cent Value Added Tax rate.
The last government of Ireland introduced the special rate as a temporary measure in 2011 to stimulate a then-moribund industry.
Despite an impressive recovery since, the hotel industry of Dublin has lobbied more furiously for the rate’s retention, on the basis that a return to 13.5 % would harm the competitiveness.