24 new hotels will open in Dublin over the next two years, says Savills.
Twenty-four new hotels, comprising 4,500 rooms, will be delivered in Dublin by the end of 2023, according to property advisor Savills Ireland.
It is forecast that 2,100 rooms will complete by the end of this year, with 1,600 expected in 2022 and 800 in 2023 – a 50pc increase on the 3,000 rooms delivered between 2018 and 2020.
“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”
New hotel openings in Dublin this summer include the Hampton by Hilton Four Courts, Beckett Locke in the North Docklands next to the 3Arena, The Wren – located in the centre of Dublin between Grafton Street and Dame Street – and Keavan’s Port Hotel on Camden St.
The 4-star Holiday Inn Dublin Airport and the Zanzibar Locke were the only two new hotels to open in Dublin since Covid-19 hit Ireland 17 months ago.
“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,” said Tom Barrett, director of Hotels and Leisure at Savills Ireland.
“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.”
According to Savills, Dublin hotel occupancy for the first 6 months of 2021 was 20pc, with full-year occupancy expected to grow closer to 30pc – down from 82pc in 2019.
“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.”
Ireland Hotel Occupancy – Year-to-Date (June)
Dublin vs European Hotel Occupancy – Year-to-Date (June)
Dublin vs UK Hotel Occupancy