Statistics from commercial property consultants, CBRE, have shown hotel sales in Ireland for the first three months of 2015 came to over €500 million, already surpassing the entire volume of hotels sold in 2014 which came to €341.7 million.
Twenty five individual properties have been sold in Ireland so far this year and according to Paul Collins, Executive Director at the Hotel & Licensed division of CBRE: “It is phenomenal to consider that as a result of continued deleveraging efforts, the volume of Irish hotel sales concluded in the first three months of 2015 totalled more than €500 million.
“We expect 2015 to be the busiest year on record for hotel transactions in Ireland,” he added.
A number of notable hotel sales are still underway including The Crystal Collection, seven Irish hotel properties with a combined 835 bedrooms, which CBRE is currently selling, suggesting strong transaction volumes will be maintained over the next couple of months.
Collins added: “Sixty three hotel sales concluded in Ireland in 2014, totalling over €341.7 million, compared to 33 hotel sales totalling €160 million in 2013.”
