New figures from STR Global show that hotels in Dublin have bounced back from 2010 with year-on-year improvements in ADR, RevPAR and occupancy levels over the first nine months of 2011.
Compared to the same period last year, occupancy rates have increased by almost 8%, the average daily rate is up over 6%, and revenue per available room (RevPAR) has risen by nearly 15%.
The average daily rate being charged by Dublin hotels in the first nine months of the year was €82.41 (US$109.20), which indicates that rates being charged have continued to climb since the beginning of the year. In the same period in 2010, the average daily rate was €77.51 (US$102.71).
A similar pattern can be observed with regards to RevPAR. In the first nine months of 2010 RevPAR had fallen 7% to €52.47 (US$69.53), compared to the same period in 2009. In 2011, in the year to September, Dublin hotels achieved a RevPAR of €60.16 (US$79.72), an increase of nearly 15%.
Occupancy rates, which when compared to ADR and RevPAR figures, did not experience the same decrease in 2010, remain positive. In the first nine months of the year, occupancy levels rose nearly 8% to 73%. In the same period last year this figure stood at 67.7%.
“The results of these latest figures show that the summer season in 2011 has been considerably stronger than in 2010, which will come as a considerable relief,” said
Kevin Sheehan, partner in charge of tourism, hospitality and leisure services at Deloitte. “The picture that is emerging for Dublin hotels in 2011 is one of steady recovery, albeit the margins being achieved are still relatively small. However with all key measurement indicators going in the right direction, it is clear that the careful consideration hoteliers gave to their marketing and pricing strategies have hit the right note with consumers.”