The supply of aparthotels in Dublin will grow by 96% this year, according to property advisor, Savills Ireland.
At the beginning of 2022, aparthotels represented only 3.8% of Dublin's total hotel stock, compared to 8.1% in London and 9.5% in Manchester.
Two Staycity aparthotels have opened so far this year, and Savills Ireland said aparthotel supply is forecast to increase by a further 40% - based on what is currently under construction.
That includes the 340-unit Staycity scheme on Little Mary Street, Dublin 7.
"Some commentators question whether the city can absorb this level of expansion? Savills forecast some very short-term challenges at a city level, considering most of the aparthotel pipeline will be delivered in 2022 when demand from international travellers is in the recovery phase post-covid-19," said Tom Barrett, Director of Hotels & Leisure at Savills Ireland.
"However, with corporates such as TikTok, 2K Games and JustEat establishing new headquarters in the Dublin alongside existing large occupiers like Facebook, corporate demand for longer-stay accommodation is predicted to be buoyant," he added.
He said this demand is likely to be exacerbated by the very tight housing market in the city.
"While the level of supply growth is considerable, the drivers of demand suggest that operational performance over the medium to long term will be strong."