Profile Of Irish Hotels 2015
Transcription
Profile Of Irish Hotels 2015
Profile of Irish Hotel Stock, 2015 Irish Hotel Sector There are currently 862 hotels standing in Ireland, of which 821 are open and trading, with approximately 57,300 available rooms. In terms of the star ratings profile of trading hotels in Ireland, 37 hotels are 5 star which represents 4% of the total stock of trading hotels, 77% are either 3 or 4 star, while the remaining 19% are 2 and 1 star rated. Figure 1 Table 1 Irish Hotels by Star Rating, 2015 Volume of Hotels and Hotel Rooms, 2015 No. of Hotels Volume of Hotel Rooms % of Total Hotel Room Capacity Dublin 155 18,919 33.0% South West 155 9,815 17.1% West 132 6,934 12.1% East & Midlands 106 6,264 10.9% North West 98 5,285 9.2% Shannon Region 81 5,100 8.9% South East 94 5,003 8.7% State 821 57,320 100% Tourism Border Region Source: DTZ Sherry FitzGerald Research Source: DTZ Sherry FitzGerald Research Dublin Dublin boasts the largest stock of hotels in Ireland with 155 hotels and approximately 18,900 rooms. This represents a third of the overall room capacity in Ireland and is almost double that of the next ranked region, the South West. In terms of hotel size as reflected by the number of rooms, nine out of the ten largest hotels in Ireland are located in Dublin, with the Citywest Hotel & Golf Resort in Saggart upholding its status as the largest, boasting 774 rooms. Of the 37 hotels in Ireland that are 5 star, 11 of them are in Dublin, while Dublin has 50 hotels registered as 4 star. South West The South West, consisting of Cork and Kerry, is the region which attracts the most tourists every year. That said, while traditionally it largely surpassed all other regions in terms of visitor numbers, the past four years have seen the gap between the South West and Dublin narrowing significantly. Not surprisingly, while it has the second largest proportion of hotel rooms available, approximately 9,800, the South West is on par with Dublin in terms of the number of hotels, and it has the largest number of 4 and 5 star hotels combined in the country. Furthermore, the stock of hotel rooms in the South West represents 17.1% of the total stock of hotel rooms in Ireland. Profile of Irish Hotel Stock, 2015 Table 2 Top 5 Counties for Hotels, 2015 County No. of Hotels Volume of Hotel Rooms % of Total Hotel Room Capacity No. of 4* and 5* Hotels Dublin 155 18,919 33.0% 61 Kerry 76 5,239 9.1% 37 Cork 79 4,576 8.0% 32 Galway 79 4,442 7.7% 27 Donegal 54 2,873 5.0% 15 Source: DTZ Sherry FitzGerald Research Irish Hotel Sector West Shannon Region The west of Ireland holds the third spot in Ireland in terms of room capacity with approximately 6,950 rooms available across 132 hotels and represents 12.1% of the stock of hotel rooms. This is particularly driven by Galway, which is ranked 4th in Ireland for hotel rooms with approximately 4,450 rooms across 79 trading hotels. Interestingly, of the top 20 hotels in Ireland in terms of room size, two of them are located in Galway, while the remaining 18 are located in Dublin. The Shannon Region, despite its position as having a high number of tourist attractions and includes one of the four regional centres, Limerick, it has the second lowest proportion of hotel room capacity, 8.9%, while it has the lowest number of hotels at 81 comprising 5,100 rooms. That said, despite having the lowest quantity of 3 and 4 star hotels, it has four 5 star hotels. It is also noteworthy that 48% of all hotel rooms in the Shannon region are located in Co. Clare, while a further 42% are located in Limerick. East & Midlands The East & Midlands region currently holds approximately 6,250 hotel rooms across 106 hotels and represents 10.9% of the total hotel room capacity. This comprises five hotels rated 5 star, 38 which are 4 star and 45 hotels that are 3 star rated. That said, the East & Midlands region has the county with the lowest number of hotel rooms available, Longford, which holds 63 rooms in just two hotels. North West Approximately 5,300 available hotel rooms were recorded in the North West region in 2015 across 98 hotels. This comprises just one 5 star hotel, namely Lough Eske Castle in Donegal, while the vast majority are 2, 3 and 4 star rated. Notably, Donegal is the 5th largest county in Ireland for hotel rooms, with 5% of the total stock while it accounts for 54% of all hotel rooms available in the North West. Figure 2 5 Star Hotels by County, 2015 Source: DTZ Sherry FitzGerald Research Profile of Irish Hotel Stock, 2015 South East The South East region, remaining unchanged from the same time last year, has the lowest room capacity in Ireland with approximately 5,000 rooms in 94 hotels. This comprises three 5 star hotels, while 72 hotels are 4 and 3 star. The vacancy rate in Ireland, which is the number of rooms unavailable for occupation as a percentage of the total stock of hotel rooms, is 2.7%, equating to approximately 1,600 rooms. A regional analysis reveals that the largest vacancy rate is in the North West, 3.7%, while Dublin holds the largest number of rooms not trading, 421, bringing the vacancy rate in Dublin to 2.2%. AUTHORS Marian Finnegan Chief Economist, Director Research +353 (0) 1 237 6341 [email protected] Deirdre O’Reilly Researcher +353 (0) 1 237 6365 [email protected] Kirsty Rothwell Head of Hotel Solutions, Director +353 (0) 1 639 9386 [email protected] About DTZ Sherry FitzGerald DTZ Sherry FitzGerald is the sole Irish affiliate of DTZ, a global leader in property services. With Irish offices in Dublin, Cork, Galway, Limerick and an associated office in Belfast, we are the largest commercial property advisory network in Ireland and are part of Sherry FitzGerald Group, Ireland’s largest real estate adviser. We provide occupiers and investors around the world with best-in-class, end-to-end property solutions comprised of leasing agency and brokerage, integrated property management, capital markets, investment, asset management and valuation. www.dtz.ie © 2015 This report should not be relied upon as a basis for entering transactions without seeking specific, qualified, professional advice. It is intended as a general guide only. This report has been prepared on the basis of publicly available information, internally developed data and other sources believed to be reliable. While reasonable care has been taken in the preparation of the report, neither Sherry FitzGerald nor any of directors, employees or affiliates guarantees the accuracy or completeness of the information contained in the report. Any opinion expressed (including estimates and forecasts) may be subject to change without notice. No warranty or representation, express or implied, is or will be provided by Sherry FitzGerald, its directors, employees or affiliates, all of whom expressly disclaim any and all liability for the contents of, or omissions from, this document, the information or opinions on which it is based. Information contained in this report should not, in whole or part, be published, reproduced or referred to without prior approval. Any such reproduction should be credited to DTZ Sherry FitzGerald.