Irish hotel prices down 17% in past year

Irish hotel prices have fallen at the fastest rate in the eurozone, according to figures compiled by hotels.com.

The website says the average price of a hotel room in Ireland was 17% lower in the last quarter of 2008 compared to the same period in 2007.

The average hotel room in Ireland cost €89 per night at the end of last year.

Galway remains the most expensive city with a room costing €129 (down 1% from 2007). It is now more expensive to stay a night in Galway than Copenhagen, Berlin, Paris, Rome, Stockholm, Barcelona, Munich and even London.

Limerick remains the least expensive city in Ireland with a hotel room costing €76 on average, but the Treaty city stemmed a historic drop in prices (they dropped 22% in 2007) by actually going up 2% year on year, the only major city in Ireland to do so.

Once again, Cork saw the biggest drop in prices of all cities in Ireland with hotel rooms down 21% from €127 to €100.

North of the border, Belfast room prices fell by more than a third to average just €102 in Q4 2008, the biggest fall in the entire UK and much steeper than the UK average decline of 24%.

Hotels.com Worldwide president David Roche said: "Irish hotel prices fell more sharply than anywhere else in the Eurozone, down 17% year on year. Prices in Dublin fell dramatically - down by one fifth to average €86 per night.

"However, this drop in room prices now makes Dublin remarkably good value for travellers looking for cheaper hotel stays within the Eurozone.

"Indeed, a four-star hotel room in Dublin now averages at €78 per night, one of the cheapest four-star rates anywhere in the world and now cheaper than Cape Town or Madrid for a hotel of similar quality."