A third of Irish hotels have changed hands since 2011, according to a study from property consultants, Savills Ireland.
The study found that the combined sales value over the five-year period was around €2.4bn.
The highest number of hotel sales occurred in the cities of Cork, Limerick and Dublin.
According to Tom Barrett, Head of Hotels & Leisure at Savills Ireland, compared to other markets, Ireland is unique in terms of the sheer volume of hotel sales in recent years.
Last year, more than €850m of hotels were sold, the second largest year of the period examined.
Major sales include the former Doubletree by Hilton Burlington Road for €182m, the Gresham hotel for €91m, the Temple Bar Hotel for €55m and The Fitzpatrick Lifestyle Portfolio, consisting of the Morgan, Spencer and Beacon for a combined price of €150m.
Outside of Dublin the largest regional transactions included The Radisson Farnham Estate for more than €27m and Lyrath Estate for €23m.
With such an intense level of activity over the past five years, Savills expects the volume of sales to normalise in the coming years.