Dublin hotel rates above boom level
New study attributes growth to capacity shortage and influx of US tourists
Figures from accountancy and business advisory firm Crowe Horwath show that room rates in Dublin hotels have hit a record high, with the average rising 15 per cent last year to €128.
The previous record of €121 was set at the height of the boom in 2006. The national average room rate in 2016 was €104.
The firm's annual survey of the industry illustrates the dramatic recovery ofa sector which was awash with zombie hotels just five years ago. In 2012, one in six Irish hotel rooms operated under the direct control of a bank, while hundreds of properties teetered on the edge. Many remained open only to avail of tax breaks.
