Dublin is expected to gain around 3,500 new hotel bedrooms by the end of 2019, a 15% increase on existing supply.
According to research conducted by real-estate company Savills, almost 90% of these bedrooms will come from new hotels. The majority of developments planned for the next two years will be situated in Dublin 1 and 2, followed by Dublin 8 and Dublin Airport. The most significant increase of Dublin hotel rooms is expected to be seen in Dublin 2 in 2018, with an anticipated increase of 35% in stock on the Dublin’s south city.
In 2017, more than half of new bedrooms will come from new hotels, while the remaining 45 per cent will come from extensions to existing hotels.
In terms of star ratings, the study shows that four-star hotel bedrooms appear to be the most popular, with a stock increase of 65% in 2017, 65% in 2018, and 50% in 2019.
There are a number of hotels currently under construction in the city including the Clayton Hotel on Charlemont Street and the Maldron Hotel on Kevin Street, while extensions are being undertaken at The Dylan in Dublin 4 and the Merrion Hotel in Dublin 2.
Data published by STR last week, reported that the average daily rate of a hotel room in Ireland during April 2017 had reached €122.60. This is an increase of 7.7% compared to the previous year. During the same period, Dublin recorded a slightly lower percentage increase of 5.5%, but the average price of rooms came in more expensive at €129.04.
Last month saw Irish hotels record occupancy rates of 81.6% in April, a rise of 3.7% in April this year compared with April 2016.