Luxury drives Ireland deals

Giant's Causeway, Northern Ireland
Giants Causeway

Ireland’s hotel market reported €583m in transactions last year, according to Cushman & Wakefield.

The group said that the figure was the second-highest for the country, with 71% of deals in Dublin.

“2019 proved to be a strong year in terms of transactional levels with a particular strong trend of luxury and Dublin city-centre hotels changing hands. Supply has remained steady with the delivery of approximately 1,300 keys into the Dublin market,” said Isobel Horan, associate director of trading assets at Cushman & Wakefield.

Two of the larger deals came at the end of the year, with the Marker, in Dublin’s Grand Canal, acquired by Deka Immobilien for about €134m and the Conrad Hotel bought by Archer Capital for about €116m.

Overseas buyers dominated activity, accounting for 77% of the value of hotel sales.