Property

More Irish hotels sold in Q1 than the whole of 2014

More Irish hotels have been sold in the first quarter (Q1) of 2015 than during the entire year last year, according to figures released by commercial property consultants CBRE

According to CBRE, Q1 2015 saw  the highest quarterly volume of hotel sales ever achieved in Ireland with 25 individual properties sold. Trading in 17 individual transactions in the quarter, the properties totaled to over half a billion euros between them.

Paul Collins, executive director at the Hotel & Licensed division of CBRE, said: “63 hotel sales concluded in Ireland in 2014, totalling over €341.7m, compared to 33 hotel sales totalling €160m in 2013.

“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 €500m. We expect 2015 to be the busiest year on record for hotel transactions in Ireland”.

Meanwhile, there are also a number of notable hotel sales still underway, including The Crystal Collection, seven Irish properties with a combined 835-bedrooms. CBRE said that this suggest strong transaction volumes will be maintained over the next couple of months.

Irish Hotel Sales 2007-2015(Q1) - CBRE
Irish Hotel Sales 2007-2015(Q1) – CBRE

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