Hotel Investments Recover

The Irish hotel investment market continued its strong recovery from Covid in the first quarter of 2022, with a new report revealing transaction activity in the first three months of the year was up on pre-pandemic levels.

The largest transaction was for Dublin Loft’s Hendrick in Smithfield, which was bought by US investment firm TPG for around €37.5m.

According to commercial real estate company Cushman & Wakefield’s latest hospitality Marketbeat report for Ireland, transaction activity hit €73.1m in the first quarter of 2022. This activity level represented a “significant improvement” on the €9.8m recorded in the first quarter of last year but also showed an increase on the level recorded before the pandemic, when transactions were just shy of €60m in the first quarter of 2020.