INVESTMENT ACTIVITY
The Irish hotel investment market remained strong in the first half of 2025, with transactions totalling around €375 million. Major Dublin deals dominated activity, including the €86 million sale of the Ruby Molly Hotel by ESR Group to German investor Deka Immobilien, leased to Ruby Hotels Group. The Fleet Hotel was also acquired by the Lanthorn Group for TMR Hotel Collection. Beyond the city centre, the Grand Hotel in Malahide, the Marine Hotel in Sutton, and the Radisson Blu at Dublin Airport all changed hands. Activity outside Dublin was limited, with the standout being the €21 million sale of Clayton Whites Hotel in Wexford to the Neville Hotel Group.
Source: Cushman & Wakefield
PRIME YIELDS
Yields for Prime Dublin trading hotels have been largely stable over the past twelve months, standing at around 6-6.75%. Looking forward we expect this stability to continue with recent cuts in Euro area interest rates supporting valuations and activity in the sector.
Source: Cushman & Wakefield
SUPPLY & DEMAND
The Irish economy performed well in H1 2025, though a frontloading of exports ahead of tariffs led to an unusual spike in GDP. While consumer confidence has softened since pre-“Liberation Day” levels, employment and wage growth continue to underpin leisure spending. Overnight trips to Ireland by foreign visitors eased slightly in H1 2025 although spending levels remained close to their recent highs. The late summer season has also been a busy one with a number of high-profile tourist events (Oasis concerts and the Aer Lingus College Football classic) all occurring in Dublin in August. On the supply side room numbers have increased slowly by only around 1% in the past twelve months.
PERFORMANCE
Irish hotels delivered another strong operational performance in H1 2025. Occupancy on a rolling 12-month basis ranged from 77% to 84%, with Dublin posting a slight year-on-year increase. Average room rates eased in Dublin and Cork but rose in Galway and Limerick. Overall, national RevPAR in H1 2025 was 1% higher than last year, with the strongest gains in Galway and Limerick.
Source: Cushman & Wakefield Markets & PerformanceIreland 
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