More than €800m (£680m) of hotels sold in Ireland this year, according to CBRE Ireland.
The advisory firm said 65 hotels were sold this year. Last year 63 were sold, raising €710m.
Lisa Keogh from the hotel division at CBRE Ireland said: “This was a phenomenal result boosted in no small part by the sale of some well-known Dublin hotel properties such as The Gresham Hotel, the Doubletree by Hilton and the Lifestyle Collection (The Spencer, Morgan and Beacon hotels) as well as high-profile provincial hotels including Lyrath Estate in Kilkenny and Farnham Hotel in Cavan.
“In addition to the high volume of asset sales in 2016, totalling more than €800m between them, a number of hotels around the country also traded as part of loan portfolios during the last 12 months. The volume of hotel sales activity in 2017 is expected to ease somewhat compared to the record sales volumes of the last two years.”
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