Dublin hotel room revenues up 15%

DUBLIN hotels enjoyed a good January with room rates up 8%, occupancy levels up 5.7% and the key revenue per available room up 15% compared with a year earlier.

The respected Deloitte & Touche Hotel Benchmark survey for January showed strong demand enabled Dublin hotels to increase revenues per available room by 15%.

Nationally, prices in the “restaurant hotel” sector increased by just 3.7% in the year to the end of January.

The survey found that the room rates increase of 8.8% was the highest month on month increase in over a year.

Meanwhile, occupancy levels increased by 5.7%, resulting in a rise in revenue per available room of 15%.

Davy Stockbrokers analyst Barry Dixon said the data follows evidence of room rate recovery in London in November and December.

“As we have previously outlined, a recovery in room rates is one of the key indicators of sector out-performance. The prospects for a recovery in the hotel sector have improved significantly,” he said.