29 IRISH HOTELS HAVE CHANGED HANDS IN THE FIRST HALF OF 2016
Dublin, 1st July 2016 – Commercial property consultants CBRE Ireland today released statistics on the volume and value of hotel sales in the Irish market in the first half of 2016, showing that a total of 29 hotel properties, totalling more than €136 million between them sold in Ireland during the first six months of 2016.
Following an exceptionally busy year in 2015, during which 63 hotel properties (totalling €710 million) changed hands in the Irish market (including two hotel portfolios), transactional activity has remained strong in the first half of 2016 with a further 29 hotel sales totalling more €136 million concluding in the last six month period. With as much as €500 million of hotel sales currently in negotiations, we are now expecting annual transaction volumes in this sector to meet, if not exceed, last years record performance.
About CBRE Group, Inc.
CBRE Group, Inc. (NYSE:CBG), a Fortune 500 and S&P 500 company headquartered in Los Angeles, is the world’s largest commercial real estate services and investment firm (based on 2016 revenue). The company has more than 75,000 employees (excluding affiliates), and serves real estate investors and occupiers through approximately 450 offices (excluding affiliates) worldwide. CBRE offers a broad range of integrated services, including facilities, transaction and project management; property management; investment management; appraisal and valuation; property leasing; strategic consulting; property sales; mortgage services and development services. Please visit our website at www.cbre.com.
In Ireland, with offices in Dublin and Belfast, CBRE is the country’s largest commercial real estate services company, now employing over 165 employees and offering a full range of property services including property sales and acquisitions, leasing and management, investment, corporate services, debt advisory, project management, consultancy, business rates and compulsory purchase, valuations and research. Please visit our website at www.cbre.ie or www.cbre.ie/ni.