Transport

Dublin daily hotel rates up 4% in January

Analysts see ‘strong start to year’ for sector with revenues also up outside capital

Shelbourne Hotel, Dublin. Photograph: Eric Luke
Shelbourne Hotel, Dublin. Photograph: Eric Luke
Peter Hamilton
Wed Feb 21 2018 - 20:19

The average daily rate of a hotel room in Dublin increased almost 4 per cent in January, data from research analyst STR shows.

The increase in January compares to 5.3 per cent growth in December 2017 and came as the average hotel occupancy rate increased by one percentage point.

Revenue per available room or RevPar, a metric calculated to incorporate both room rates and occupancy, grew 5.4 per cent in January in Dublin. Hotels outside Dublin saw stronger RevPar growth of 8.6 per cent in the period, with occupancies there up 1.5 percentage points.

Analysts at Davy wrote in a note that the figures showed “a solid start to the year”.

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“Our forward rate tracker for the Dublin market supports our 2018 RevPar forecast of 5.5 per cent, with particular market strength highlighted over the summer months,” they said.

Peter Hamilton

Peter Hamilton

Peter Hamilton is a contributor to The Irish Times specialising in business