Irish hotel sales topped €1bn in 2015

The value of hotel sales in Ireland topped a record €1bn in 2015 according to property consultants Savills Ireland.

In its upcoming report on the hotel sector, Savills notes that demand for hotel assets was consistently strong in 2015 due a wide range of positive factors, such as the 14% growth in overseas visitors, Dublin hotel RevPAR (revenue per available room) growth of over 20%, the significantly stronger US dollar and pound sterling, compared to a weaker euro, and Irish GDP growth of 7%.