Travel research company STR has released a new forecast stating that the average daily rate of Dublin hotel rooms will rise to just under €150 by 2021, with occupancy rates exceeding 85%.

 In May, Dublin's average daily room rate was just under €125 with an occupancy of approximately 80%. The former figure was lower than other European cities such as Amsterdam, Barcelona and London, while the latter figure was considerably higher than the European average of 67.7%.

Dublin's revenue per room was up 7% on May of 2016, with occupancy in Ireland as a whole for the first five months of 2017 also being above the European average at 73.2%.

STR noted that during the period January to May 2017, occupancy rates in Dublin were in excess of 90% for 38 days and occupancy dropped below 70% on 35 occasions. Both of these figures surpassed the statistics for the same period in 2016.