Savills forecasts strong hotel sales

A continued rise in foreign visitors, further stock coming onto the market and ongoing public policy support is expected to lead to another strong year of transactional activity in the hotel sector, following a bumper year in 2013.

Leading commercial property consultants Savills yesterday noted that nearly 40 Irish hotels changed hands, last year, in deals worth €200mn.

It attributed much of the transaction performance to banks actively lending to investors again, economic recovery and a marked increase in domestic and in-bound tourist numbers.