More Than €304 Million Transacted In The Irish Hotel Sector During The First Nine Months Of 2019
September 27th, 2019 - Property consultants CBRE Ireland have today released figures for hotel spend in the first nine months of 2019 showing that 16 hotel sales totalling more than €304 million transacted in the Irish market in the year to the end of September. Recent hotel sales include the sale of Druids Glen Hotel & Golf Resort and the Central Hotel in Dublin. According to CBRE, demand continues to outstrip supply, particularly for hotels in Dublin city centre. The property consultants say there are several large hotel transactions currently at various stages of negotiations and legals which are due to complete before year-end and which will boost annual spend. Hotel spend in 2018 reached more than €757 million in 21 individual sales.
CBRE Group, Inc. (NYSE:CBRE), 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 2018 revenue). The company has more than 90,000 employees (excluding affiliates) and serves real estate investors and occupiers through more than 480 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.
CBRE U.C., (CBRE Ireland) registered in Ireland, no. 316570. PSRA Licence No. 001528 is the country’s largest commercial real estate services company with offices in Dublin and Cork. Currently employing over 150 employees, we work with occupiers, investors and developers of office, industrial and logistics, retail, hotel and healthcare property, providing strategic advice and execution for property sales and leasing; tenant representation, corporate services; property and project management; appraisal and valuation; development services; investment management and debt advisory; business rates and compulsory purchase and research and consulting. Please visit our website at www.cbre.ie