Hotel sales could hit €350m this year

Hotel sales could hit €350m this year

Irish hotel sales in 2014 look set to equal the values achieved in 2012 and last year combined.

Savills estate agents says sales of Irish hotels could achieve €350m this year.

Head of Savills hotel and leisure division Tom Barrett said there had been some high profile overseas buyers entering the market.

“It’s down to a recovery in Ireland generally which is fuelling a recovery in the hotel trade,” he said.

“There (are people) now looking to buy property and businesses, and that combined is increasing the value of hotel properties.”

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