Figures indicate bumper year for hotel deals

Estimates of a bumper year of Irish hotel purchases look set to be met, with figures showing nearly €650m having been spent on such transactions in the first nine months of the year.

The new data, published yesterday by commercial property consultant CBRE Ireland, shows that 54 hotel transactions took place in the nine months to the end of September, meaning that previous estimates for around 60 transactions for 2015 should be met.

Already 2015’s transaction total is rivalling that of 2014, when 63 deals were signed. However, last year’s total transaction value of under €400m has already been comfortably overtaken.