Fáilte Ireland calls for investment in hotels across key cities including Galway

AwaitYourReply

New report shows need for more investment in hotel stock in Kilkenny and Galway, with a strong pipeline planned for Cork. A shortage of new bed stock will squeeze visitor growth in Galway & Kilkenny over the next 5 years.

Fáilte Ireland has today highlighted major investment opportunities in hotel stock in key cities. Its latest report on the current and future availability of accommodation shows that there is significant opportunity in Kilkenny for further bed capacity, while Galway also has scope for greater accommodation supply, following strong year-on-year growth in the number of overseas tourists coming to Ireland...

The 'Analysis of Tourism Accommodation in Cork, Galway and Kilkenny' report commissioned by the national tourism body was carried out by Fitzpatrick Associates Economic Consultants and looks at the current and projected level of bed stock across all accommodation types. The analysis focuses on hotels predominantly, as they constitute the primary source of accommodation in each of the cities, accounting for more than 80% of bed spaces.

Galway, which is currently at 82% annual occupancy, also has significant room for investment. With an estimated 17% increase in hotel bed stock over the next five years (500 new hotel rooms), this increase is likely to fall short of expected demand growth.

Overview of report findings in relation to Galway:
The central projection is for an additional 490 rooms or 17% growth in hotel room stock. This is made up of:
a net addition of 56 rooms in 2018
234 rooms across six different hotel projects to be added to Galway’s stock by end-2020
at least an additional 200 rooms post 2020
The bulk of additional rooms are expected to be in 4-star hotels.

While the main thrust is focused on Hotel rooms stock, it also covers other forms of accommodation such as Bed & Breakfasts, Guesthouses, Hostels, Self-Catering which could include caravan+camping and so on.

Full article as published on Failte Ireland website on this web link:
http://www.failteireland.ie/Utility/News-Library/Failte-Ireland-calls-for-investment-in-hotels-acro.aspx

Summary Report is here:
http://www.failteireland.ie/FailteIreland/files/1f/1f3e51be-91be-4284-b1a4-392793e2c3d7.pdf

Full Report is here:
http://www.failteireland.ie/FailteIreland/files/f1/f194287a-1907-42c5-9dce-0d5577115c14.pdf

Media sources:

https://www.irishexaminer.com/breakingnews/business/cork-tourism-revenues-set-to-top-1bn-a-year-888835.html

https://www.galwaydaily.com/news/galway-facing-shortfall-of-hotel-rooms-in-the-next-five-years/

youngrun

AwaitYourReply wrote: »

New report shows need for more investment in hotel stock in Kilkenny and Galway, with a strong pipeline planned for Cork. A shortage of new bed stock will squeeze visitor growth in Galway & Kilkenny over the next 5 years.

Fáilte Ireland has today highlighted major investment opportunities in hotel stock in key cities. Its latest report on the current and future availability of accommodation shows that there is significant opportunity in Kilkenny for further bed capacity, while Galway also has scope for greater accommodation supply, following strong year-on-year growth in the number of overseas tourists coming to Ireland...

The 'Analysis of Tourism Accommodation in Cork, Galway and Kilkenny' report commissioned by the national tourism body was carried out by Fitzpatrick Associates Economic Consultants and looks at the current and projected level of bed stock across all accommodation types. The analysis focuses on hotels predominantly, as they constitute the primary source of accommodation in each of the cities, accounting for more than 80% of bed spaces.

Galway, which is currently at 82% annual occupancy, also has significant room for investment. With an estimated 17% increase in hotel bed stock over the next five years (500 new hotel rooms), this increase is likely to fall short of expected demand growth.

Overview of report findings in relation to Galway:
The central projection is for an additional 490 rooms or 17% growth in hotel room stock. This is made up of:
a net addition of 56 rooms in 2018
234 rooms across six different hotel projects to be added to Galway’s stock by end-2020
at least an additional 200 rooms post 2020
The bulk of additional rooms are expected to be in 4-star hotels.

While the main thrust is focused on Hotel rooms stock, it also covers other forms of accommodation such as Bed & Breakfasts, Guesthouses, Hostels, Self-Catering which could include caravan+camping and so on.

Full article as published on Failte Ireland website on this web link:
http://www.failteireland.ie/Utility/News-Library/Failte-Ireland-calls-for-investment-in-hotels-acro.aspx

Summary Report is here:
http://www.failteireland.ie/FailteIreland/files/1f/1f3e51be-91be-4284-b1a4-392793e2c3d7.pdf

Full Report is here:
http://www.failteireland.ie/FailteIreland/files/f1/f194287a-1907-42c5-9dce-0d5577115c14.pdf

Media sources:

https://www.irishexaminer.com/breakingnews/business/cork-tourism-revenues-set-to-top-1bn-a-year-888835.html

https://www.galwaydaily.com/news/galway-facing-shortfall-of-hotel-rooms-in-the-next-five-years/

This year
The Westwood is knocked
Some extra rooms in maldron

Nothing else in progress ? Or am I mistaken

Reports of massive increases in visitors for 2020 but where will they stay

Student accommodation at summer phases may be answer but fairly grim breeze block style living in the suburbs not well served by facilities ,might suit some however

Zzippy

youngrun wrote: »

This year
The Westwood is knocked
Some extra rooms in maldron

Nothing else in progress ? Or am I mistaken

Reports of massive increases in visitors for 2020 but where will they stay

Student accommodation at summer phases may be answer but fairly grim breeze block style living in the suburbs not well served by facilities ,might suit some however

Planning in process for a 122-bed hotel in Doughiska.

AwaitYourReply

In my native city of Cork, I know that there are numerous hotel developments currently in the pipeline. The first of these will be a new Maldron Hotel opening on South Mall in the coming days/weeks. I think Cork City gets most of it's custom from the "business/corporate" sector whereas; Galway would attract much more custom from the "tourism" sector. Galway definitely needs more accommodation options to cater for the busy tourist season although; it needs to ensure budget/economy model grows as the cost of living in Ireland is expensive for many tourists who may be on relatively modest incomes. More "Jurys Inn" type accommodation and more Tourist & Backpacker Hostels in Galway city centre would help alleviate the pressure during high season and weekends.

Mrs OBumble

Zzippy wrote: »

Planning in process for a 122-bed hotel in Doughiska.

And another in Ballybane industrial estate... not sure how many rooms.

Investors seem to have learned that business hotels cannot be stand alone, they need to be near commerce hubs.

youngrun

Yes lots in planning but a few years of building yet , 2020 I dont see any being done?

The Dean? Definitely
Other sites with hotel planning /plans or former use
Market Street car park/Tribune
Crown Square
Connacht laundry
Corrib GS

Lots of potential but 3-5 years away

spurshero

youngrun wrote: »

This year
The Westwood is knocked
Some extra rooms in maldron

Nothing else in progress ? Or am I mistaken

Reports of massive increases in visitors for 2020 but where will they stay

Student accommodation at summer phases may be answer but fairly grim breeze block style living in the suburbs not well served by facilities ,might suit some however

Work just starting on 120 room hotel where on old Shannon cleaners site in prospect hill