There has been a call for the development of new hotel properties after a Fáilte Ireland report found that limitations on accommodation capacity in key areas are a major barrier to future growth. Reports have shown that business is strong from overseas visitors and bookings and performance are ahead of last year, despite a decline in U.K candidates.
Total overseas arrivals to Ireland from January to August show a record 6.7 million visitors, which is an increase of 2.5%. This increase comes from an increase in the number of North American visitors, up by 18%. This increase shows that North Americans have overtaken UK visitors, traditionally the most important group to the Irish hospitality industry, in terms of revenue spent.
There have been 5 hotels opening this decade in Dublin City Centre and only 1 new hotel opening this year. Property management company JLL have called upon industry stakeholders including planning authorities, hoteliers and developers to encourage and pursue the development of new hotels in the capital’s city centre.
Commenting on the report, Senior Vice President at JLL, Dan O’Connor said, “New hotel rooms are urgently needed in Dublin City and we welcome the publication of Failte Ireland’s latest SOAR report which calls for new hotel supply now.” He added, “With one of the highest hotels occupancy levels of any European City, new hotel supply is necessary to cater for the significant leisure, corporate and group demand now facing Dublin City. We will lose out on millions of spend for the capital, if we don’t deliver new hotel and apart-hotel supply swiftly.”
