Dublin Needs More Hotel Rooms
Almost 2,600 new hotel rooms were added in the Dublin region during 2023, but more are needed in the years to come, according to a new study.
The building of those rooms delivered to the market last year was worth €470m to the construction sector alone, according to the Mitchell McDermott Annual Construction Sector Report.
Although the report described the current pipeline for new hotels as “very positive”, concerns have been raised about a potential slowdown in future years due to restrictive planning. Currently there are more than 24,000 hotel rooms in Dublin, the report found.
Some 3,000 more new rooms are expected to be delivered by 2025, the report said.
Developers have also been granted planning permission for a further 7,281 rooms, excluding guest houses and hostels, across Co Dublin. Planning permission has recently been sought for hotels that would deliver a further 2,134 rooms, it said.
“The next five years will see continued increase in hotel numbers,” said the report. “With ongoing changes in the temporary emergency accommodation guidelines and approach, we may see some of the existing stock come back to the market in the next year.”
Dublin has an 83.4pc occupancy rate, the highest across 35 European countries.