Hotels in the Ballsbridge catchment area of Dublin 4 have increased their prices by 30 per cent on average for dates around upcoming events including autumn and Six Nations rugby internationals, a survey has found
In an analysis carried out by KHSK Economic Consultants of the six largest hotels within 1km of a planned hotel for Upper Baggot Street found that hotels were currently charging on average €373 per night for their cheapest double room on the day of the event compared to €288 for the same room a week earlier.
The report said that the average 29.5 per cent “premium is likely to increase as the events draw nearer”.
The price increase at hotels ranged from around 30 per cent to 45 per cent when matches were scheduled, the report found.
Some of the high profile rugby matches used in the survey include upcoming Ireland rugby internationals against New Zealand on November 8th, against Australia on November 30th and Six Nations games against England on February 1st and France on March 8th.
KHSK Economic Consultants’ report has been lodged as part of a planning application for a proposed 100 bedroom hotel for Upper Baggot Street in Dublin.
Raglan Townhouse Hotel Ltd is seeking planning permission for the hotel at Nos, 46, 48 and 52 -54 Baggot Street Upper and at 46, 48, 50 and 52-54 Eastmoreland Lane, Dublin 4.
The consultants said that the price pressure highlighted was “indicative of high booking activity and lack of availability at these times. The proposed new hotel would be very well located to meet this demand”.
The study results also underlined the importance of event tourism in the area “and the importance of adequate supply of hotel rooms in this area to meet surges in demand”.
The report went on to say that “Dublin is a key part of the Irish tourism product, particularly in the high value, oversees business and events markets.”
“However, there is evidence in the form of very high occupancy rates that there is an existing under supply of visitor accommodation in the city, ” it added.
he Dublin hotel sector experiences a high number of nights when occupancy levels exceed 95 per cent and “such nights lead to dynamic pricing and price volatility”, the report said.
The report also said that the area had lost 600 hotel rooms since 2016 with the closure of two big hotels and no bif hotels had opened in the past decade.
The 40-page report found that there wasn’t an over-concentration of visitor accommodation in the 1km catchment area around the proposed hotel site.
The report said that “the thin pipeline of new developments means that there is no indication of there being an over-concentration in the future”.
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