Dublin hotel prices hit a record high in May of this year

The prices continue to rise.

The average daily rate for a Dublin hotel room in May was €209, a record high and 3.5 per cent increase on the previous monthly record, which was hit in September last year.

First reported by The Irish Times, according to a new report by property agent CBRE Ireland, the average daily rate across all hotels in the capital is around €170.

“Private investors and family offices are particularly active in the current market,” said Director and head of research at CBRE Ireland, Colin Richardson.

“The hotel sector remains attractive to institutional investors and lenders given the strong trading performance of both Dublin and regional hotels.”

The report also states that occupancy rates across all Irish cities, including Dublin, remain strong. Between January and the end of May, occupancy in Dublin averaged 78%. Those figures are in line with those before the pandemic in 2019.

 The report comes as hoteliers have been blasted for increasing room prices for Taylor Swift concerts next year

TD’s hit out at high hotel room prices for Taylor Swift concerts

The report comes on the back of news that Dublin hotel room prices are soaring for the week of the Taylor Swift concerts next June.

Raising the issue in the Dáil this week, Independent TD Thomas Pringle told the chamber that according to popular online booking site Booking.com, that there were no rooms available in Dublin for under €350 on the dates of the gigs.

Describing these figures as “rampant price gouging”, hoteliers were blasted for exponentially increasing prices prior to tickets for Swift’s concerts even being released on general sale.

Header image via Getty 

READ NEXT:

– Whispering Angel Rosé Garden gets its wings at Café en Seine

– New jazz and improvised music venue to open in Smithfield