Record €1bn Irish hotel spend in 2015

A perfect storm of economic factors combined to ensure a record year for hotel sales in Ireland in 2015 with more than €1bn spent over the 12 months.

Domestic and overseas investors flocked to snap up hotel assets as a number of factors created strong demand which was sustained throughout the year, according to research from property agents Savills Ireland.

The weakness of the euro compared to the dollar and sterling coupled with GDP growth of 7% and an increase in overseas visitors of 14% led to the unprecedented level of sales.