Commercial property

Investor interest buoys hotel sector as it finds its feet once more

After a hiatus caused by the pandemic, investment activity began to recover during 2021 with the successful sale of several prominent hotels

Dunboy Castle in west Cork was bought by Oakmount earlier this year, and is set to be completed and relaunched as a five-star resort

2020 was forecast to be another year of steady growth for Irish tourism, the country’s largest indigenous industry and biggest regional employer.

In 2019, a record 10.8 million overseas or out-of-state visitors came to Ireland, while domestic trips surpassed 11.6 million, with combined revenues from both foreign and domestic tourists reaching more than €9.5 billion, according to Fáilte Ireland figures.

In the opening months of 2020, overseas visitor numbers were indeed marginally higher than 2019 ...