3,000 hotel rooms to be built in Dublin before 2020
This will relieve pressure in the capital.
Analysis conducted by Savills Hotel and Leisure division shows that more than 3,000 new rooms are scheduled to be built in Dublin in the next three years.
Currently, there are approximately 19,000 hotel rooms in the capital and the construction of 3,000 more would amount to an increase in supply of around 15%.
According to the report, 55% of new bedrooms will come from new hotels in 2018 while extensions to existing hotels will make up the other 45%.
The Savills Hotels and Leisure division, examined hotels that are in the planning process, have received planning approval, or are currently under construction.
The majority of planned development in 2018 /19 will take place in the central locations of Dublin 1 and 2, followed by Dublin 8 and Dublin Airport.
By 2019, Savills expect almost 90% of new supply to come from new hotels. Four-star Dublin hotel stock will increase by 65% in 2017 and 2018 while five-star stock will increase by 25% by the end of the year.
Tom Barrett, Director, Savills Hotels & Leisure commented:
“Most Dublin hotels trade in both the leisure and corporate markets and hotel development is also targeted at both markets. The 2018/19 pipeline will bring new supply to the Aparthotel and Budget sectors, which are currently under-represented in Dublin.”
Hotels currently under construction include:
- Aloft, Dublin 8
- Clayton Hotel Charlemont St, Dublin 2
- Maldron Hotel, Kevin St, Dublin 8
- Marlin Bow Lane, Dublin 2
- Boutique Hotel (Paddy McKillen Jnr.) Ranelagh, Dublin 6
- Pinebrook House, Dublin 2
- The Dylan, Dublin 4
- Trinity City Hotel, Dublin 2
- The Merrion Hotel, Dublin 2
- Hilton Garden Inn Dublin, Dublin 1
- Castleknock Hotel & Country Club, Dublin 15
Developments are being considered and progressed by the likes of:
- McGettigan Hotel Group
- Paddy McKillen Jnr
- Seraphine Hotel Group
The announcement comes a week after reports from hotel market data experts, STR, found that there was an increase of 5.5% in Dublin since 2016 for the daily rate of a room, which averages at €129.04.