Record Irish hotel sales in Q1 surpass 2014 total - CBRE

The Irish hotel investment market saw a higher volume during the first quarter of this year than for all of 2014, CBRE has reported.

Twenty five individual hotel properties changed hands for a total of more than €500 mln in 17 transactions in the first three months of the year. This was the highest quarterly volume ever recorded for Irish hotel investment.

Paul Collins, executive director at the Hotel & Licensed division of CBRE: '63 hotel sales concluded in Ireland in 2014, totalling over €341.7 mln, compared to 33 hotel sales totalling €160 mln 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 €500 mln. We expect 2015 to be the busiest year on record for hotel transactions in Ireland.'

A number of notable hotel sales are still underway including The Crystal Collection, 7 Irish hotel properties with a combined 835 bedrooms, which CBRE is currently selling, suggesting strong transaction volumes will be maintained over the next couple of months.