More than 15,000 new hotel rooms are being planned for Dublin over the next three to five years, almost doubling the city’s current capacity.
A comprehensive industry analysis reported by by The Irish Times shows that some 100 new hotels or guest accommodation developments are either already in construction or working their way through the planning process.
They represent 15,000 new rooms on top of the existing 18,000 rooms already in the capital spread across 250 existing hotels.
Some of these will not materialise due to a lack of planning permission or other hurdles during the development process.
Attractive returns on offer to investors have led to several large new establishments being constructed right in the centre of the city.
The Mayson Hotel, next to the new Central Bank building and close to developer Johnny Ronan’s Salesforce Tower at North Wall Quay, was recently opened by Press Up Entertainment Group.m The same company is involved in the delivery of a new 213-bedroom hotel as part of its wider development of the Clery’s Quarter on O’Connell Street.
A spokeswoman for Fáilte Ireland said its analysis showed there 18 new hotels, five extensions and seven apart hotels were under construction. She added that Fáilte Ireland was forecasting a need for 5,000 new rooms by 2021. It estimates each 200-bed hotel creates tourism revenue of €9 million and contributes €2 million to the exchequer per annum.