Hotel, Tourism & Leisure Market Update
February 2025
Welcome to the latest edition of Crowe's Hotel, Tourism & Leisure market update, where we take a look at the wider tourism sector and provide hotel commentary, sectoral updates and noteworthy news.
In this edition (pdf), we share a selection of our key industry developments and insights, including Ireland’s hotel performance, transactions, tourism trends, and the latest updates on hotel supply.
Key insights in this update
Ireland Hotel Market Performance 2024: Occupancy Declines, ADR Supports RevPAR
In 2024, hotel occupancy across Ireland saw a slight decline compared to 2023, but stronger ADR helped offset the impact, leading to modest RevPAR growth nationally. While some markets benefited from rising room rates, others faced pressure from new supply or softening demand. Events and tourism remained key drivers of performance.
Strong Year for Hotel Transactions in Ireland, Nearing €1bn
Hotel transactions in Ireland approached record levels in 2024, making it one of the strongest years on record, alongside peaks in 2006 and 2015. Investment activity remained high, with several properties entering the market in the final quarter, reflecting strong investor interest and a positive outlook for 2025.
Visitor Numbers and Spending Rise in 2024, Despite Decline in Length of Stay
Ireland experienced growth in international tourism in 2024, with higher visitor numbers and increased spending. However, a shorter average length of stay led to a decline in total nights spent. North America remained the top spending market, followed by Continental Europe and Great Britain.
Crowe Annual Irish Hotel Market Briefing 2025: Key Industry Insights
Crowe and JLL hosted the Irish Hotel Market Briefing, bringing together industry leaders to discuss market trends and investment activity. Featuring insights from Dalata Hotel Group’s Deputy CEO and experts from Crowe and JLL, the event provided a comprehensive outlook on hotel performance, transactions, and key dynamics for the year ahead.
