24 new hotels to open in Dublin by the end of 2023
It is reported that hotel occupancy at the end of June this year was at 20%.
4,500 hotel rooms across 24 new hotels will be available in Dublin by the end of 2023, according to property advisors Savills Ireland.
2,100 of these hotel rooms will be completed by the end of 2021 alone. Some of the new locations opened or set to open this year include the Hampton by Hilton Four Courts, Beckett Locke in the North Docklands next to the 3Arena, The Wren (located between Grafton Street and Dame Street) and Keavan's Port Hotel on Camden Street.
Tom Barrett, Director of Hotels and Leisure at Savills Ireland, said the following about the increased supply:
"Despite an increase in the number of hotels in Dublin since 2018, the market - pre-Covid - remained significantly under supplied, resulting in high room occupancy and low availability. This was damaging the city’s reputation - and its ability to compete with other European destinations.
"However, with local and inbound tourism expected to return to pre-pandemic levels in the next two to three years, Dublin’s increased supply of hotel rooms will provide value and choice, which will be good for Irish tourism."
Hotel occupancy in Dublin for the year so far has been 20%, expected to rise to 30% by the end of the year. That is about on average with most of Europe, but nearby locations are already above that number, including Cork and Belfast (both 28% occupancy at the end of June), as well as London (29%) and Liverpool (34%).
Barrett commented on these hotel occupancy rates, saying:
"Locally, people think that Dublin is much quieter than other European cities, but apart from some UK cities, Dublin’s performance is much in line with other European capitals."