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Dublin hotels posted a record performance in the second quarter, reaching the highest average attendance rates of all time, according to the STR travel research company.
The numbers are published as EasyHotel announced that it would develop a hotel specialized in the capital after spending 9 million euros on a downtown site.
Reviewing the performance of European hotels, STR found that the average daily rate (ADR) of Dublin hotels increased by 9.5 percent over the same period last year to 155.75 € , far exceeding the average European rate of 115.54 €.
According to the firm, absolute values for occupancy, ADR, and income per occupancy rate of Dublin hotels increased by 0.2% during the quarter to reach 89.6%, while the RevPar grew 9.7% to 139.51 €, against a "The already high occupancy levels of Dublin left little room for growth. However, the popularity of the market as a destination and the constant demand for rooms continue to show a record performance, "said STR badyst
who counts Nearly 62,000 hotels and more than 8.2 million hotel rooms worldwide. The European hotel industry has seen growth in all key performance indicators with occupancy rates up 1 , 1% to 75.5%.
Star Performers
Aside from Dublin, Moscow was the other star actor during the trim the growth in supply and the increased demand around the World Cup. The average room rate in the Russian capital jumped 78.9%, while RevPar rose 95.5%.
The latest data arrives the same week as the Irish group Tifco announced its intention to bring the Hard Rock Hotel franchise to Dublin. It is also EasyHotel, the group established by Stelios Haji-Ioannou, founder of EasyJet, who acquired a freehold land in the center of Dublin and plans to develop a building at the same time. Corner of Benburb Street and Wood Lane, the site already has an urban planning permit for a 96-room hotel. However, the group said that it had to request the modification of the existing building permit to build a 130-room hotel.
The new hotel is expected to cost 18 million euros and will be financed by group funds. balance sheet, as well as local debt financing.
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