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The outlook for the second half of 2014 is positive. At the macroeconomic level, further growth in GNP and employment numbers is expected to support a continued recovery in domestic tourism. In addition, very low base interest rates should see the Euro, which has fallen significantly in recent months, continue to weaken against sterling and the dollar. This should help to underpin demand from non-euro area tourists coming to Ireland.
As a result of the improved trading environment, transactional activity in the hotels market is expected to be well up on 2013 with more hotels coming to market in the coming weeks and months. We expect NAMA and Ulster Bank to be active in this respect and it is likely that a similar strong mix of buyers will remain in the market.
Source : Savills
