Irish construction industry data show that 3,000 new hotel guestrooms will be added to Dublin's inventory by 2020. According to Irish Times, the rise in guestroom numbers is expected to support the tourist demand and boost Ireland's economy.
Construction Information Services, which monitors projects in development, stated that Dublin's guestroom stock is expected to increase by 15 percent over the next three years as new hotels in the Docklands, near Dublin Airport and in other parts of the capital begin operating.
In April, Irish investment group Tetrarch submitted a planning application to develop a €65-million commercial project, which will include an eight-story budget hotel on a site surrounded by Mott Street, Gloucester Street South and Townsend Street. This project alone will add about 393 guestrooms to the capital's total stock. If approved, Ned's of Townsend Street pub will make way for the development, among other buildings in the area. A €18-million redevelopment plan of River House on Chancery Street in Dublin 7 has a proposed 249 new guestrooms while the Marker Hotel on Grand Canal Square has planned a €6-million extension that will increase the city's stock by 30 guestrooms.
A €40-million conversion plan has been approved for Loreto Hall in Dublin 2, which includes the construction of 94 guestrooms. Gannon Homes has planned to develop a 209-guestroom hotel in Dublin 13 for €28 million. Construction company JJ Rhatigan is developing the Dublin 2 hotel as they construct the new €18-million Maldron Hotel on Kevin Street, which is adding 139 guestrooms. The site for a €22-million hotel in Dublin 8, that will add 234 guestrooms, is gearing up to commence construction as a €3-million hotel with 41 guestrooms is already underway in Dublin 6.
Hotel Development Outside of Dublin
Hotels are currently in development in Kildare, Louth, Cork and Galway counties. Meanwhile, 31 guestrooms are being added in Limerick as the €50-million redevelopment of Adare Manor nears completion this year.
Sean Downey, director for specialist contracting at the Construction Industry Federation, has forecasted that the surge in hotel development will cause significant demand for specialist fit-out subcontractors. He told Irish Times, “We would expect that in the initial stages there will be demand for the groundworks and structural sub-contractors with phased demand for finishing trades as developments move through to completion. Hotels typically demand a high level of specification, so sub-contractors with specialist skills and experience in delivery of a quality product will be most in demand.”
Although the number of British visitors to Ireland has dropped, which is attributed to the decline in sterling following Brexit, Irish hotel companies have reported that business increased during the first half of 2017.
In early July, The Irish Hotels Federation reported that seven out of 10 hotel companies said business is surging compared to the same period last year. They predict the rest of the year will continue with this success.