Dublin, 8th October 2021 - Having earlier today announced the sale of the Slieve Donard Resort and Spa to US-based Adventurous Journeys (AJ) Capital Partners, property consultants CBRE this evening released figures for the value and volume of hotel sales in Ireland in the first three quarters of the year. According to CBRE, there were 12 hotel sales completed in Ireland in the first nine months of 2021, bringing total spend to more than €330 million - exactly double the volume spent in the Irish market in the entire year last year. This is encouraging and with several transactions in legals and others that have recently closed like the Slieve Donard to be included in Q4 stats, the outturn for the year looks promising, albeit lower than the transaction volumes experienced pre-pandemic.
Volume of Hotel Sales in Ireland 2010 – 2021 YTD
Source: CBRE Research
According to Alex Sheeran, Senior Analyst in CBRE’s Hotels team in Ireland “There has been a welcome increase in transactional activity in the Irish hotel sector in recent months following a dearth of hotel sales in 2020. There has also been good demand for various hotel development opportunities that have been offered for sale recently. We continue to see strong pent-up demand from international parties looking to invest in Dublin, several of whom have taken the opportunity to travel and inspect opportunities since travel restrictions have eased. A busy couple of months of trading are now in prospect and 2022 is also shaping up to be an active year for this sector as the market slowly rebounds from what has been a very testing two-year period for the industry”.
CBRE U.C., (CBRE Ireland) registered in Ireland, no. 316570. PSRA Licence No. 001528 is the country’s largest commercial real estate services company with offices in Dublin and Cork. Currently employing over 150 employees, we work with occupiers, investors and developers of office, industrial and logistics, retail, hotel and healthcare property, providing strategic advice and execution for property sales and leasing; tenant representation, corporate services; property and project management; appraisal and valuation; development services; investment management and debt advisory; business rates and compulsory purchase and research and consulting. Please visit our website at www.cbre.ie
CBRE Group, Inc. (NYSE:CBRE), a Fortune 500 and S&P 500 company headquartered in Los Angeles, is the world’s largest commercial real estate services and investment firm (based on 2020 revenue). The company has more than 100,000 employees (excluding affiliates) and serves real estate investors and occupiers through more than 530 offices (excluding affiliates) worldwide. CBRE offers a broad range of integrated services, including facilities, transaction and project management; property management; investment management; appraisal and valuation; property leasing; strategic consulting; property sales; mortgage services and development services. Please visit our website at www.cbre.com