Hotel-room rates fall to lowest level in 10 years

The cost of renting a hotel room in Ireland is at its lowest rate for more than a decade.

Consultants Horwath Bastow Charleton say hotel profits have plummeted by 50% since 2007 and that rooms which, in 2007, would have brought in nearly €14,000, now bring in just €3,000.

They add that Ireland's pre-recession hotel boom has left many owners with heavy debts, with newly developed four- and five-star resorts hardest hit.

More than 40% of hotel rooms were developed in the last 10 years.


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