Planning a hotel sale or acquisition in 2019?
JLL Ireland’s Hotel Team are delighted to announce a selection of their 2018 hotel deals
Buyer demand for Dublin hotels remains robust. Many of the deals from 2018 are a testament to the significance of both domestic and international buyer interest in Dublin.
Overseas visitor numbers surpassed the 10 million milestone for the first time ever, a phenomenal 10.6 million overseas visitors came to Ireland in 2018. While hotels in the capital filled approximately 84% of rooms in 2018, ADR, for the same period, increased 6.5% to approximately €145, data from STR shows. During 2018, Minister for Finance Paschal Donohoe announced the VAT rate for hotel rooms would rise from 9% to 13.5%.
With challenges such as the new VAT rate and Brexit cut-off date of March 29th approaching, we need to now focus on diversifying Ireland's source markets in order to sustain success in the Irish tourism sector in 2019.