Dublin hotel prices rise as occupancy rate hits 82% according to PwC report

Dublin hotels had the highest revenue growth and recorded one of the highest occupancy rates in Europe, while prices are heading back to 2017 levels as shortages persist, according to a major report.

The report from accountants PwC compared city hotels across Europe on the basis of their average revenue, revenue per room, occupancy and average daily room rates.

It found that Dublin hotels were “relatively good value” but that because of increased demand that prices were “expected to creep up”.

There are 155 hotels or 18,900 hotel rooms in Dublin — or a third of all rooms in the republic.

Amid an increase in demand, the report says supply concerns persist, despite proposals for 13 new hotels or 3,500 new rooms in the capital.

With an occupancy rate of over 82%, Dublin trails only London as the busiest hotels in European city destinations.

And revenues grew faster than any other European city — with revenue earned per available room likely to reach €107.60 in 2017, up from €99.50 this year, the report found.

“This was driven in part by occupancy rates, which are now some of the highest in Europe.

"However, the main driver of revenue per available room has been an increase in room rates, which increased by 17.5% to €111 in 2015 compared to €77 in 2010,” said PwC.

At €252.50, Paris, despite the terrorist attacks, is likely to continue to have the most expensive average daily room rate.

Cities pricier than Dublin also include Geneva at €246.80; Zurich at €219.20; London at €202.20; Rome at €156.50; Amsterdam at €133.9; Barcelona at €129.10; and Frankfurt at €128.40.

“Strong demand and little new supply means (Dublin) room rates continue to boost trading,” it said.

Dublin tops the Growth league in PwC’s 2015 European Hotel Forecast: http://t.co/CWk0X22fPw #hotels #dublin pic.twitter.com/4RyHyHtRx6

— PwC Ireland (@PwCIreland) March 3, 2015