The average cost of renting a hotel room hit a record high in May, according to new data from property advisory company CBRE Ireland.
The Average Daily Rate (ADR) for the month was €209, up 3.5% on the previous monthly record it said.
That was achieved in September of last year.
So far this year, the ADR across all hotels in the capital is around €170.
CBRE said occupancy rates across all Irish cities, including Dublin, remain strong.
Between January and the end of May, occupancy in Dublin has averaged 78%, in line with levels achieved for the same period pre-pandemic in 2019.
CBRE said transactional activity in the hotel sector has also picked up during the second quarter of the year.
€91 million worth of Irish hotel transactions were completed between April and the end of June across six separate deals.
Over the first six months of the year, €135m of capital was deployed on Irish hotels.
CBRE said development activity remains quite robust, despite escalating build costs and debt challenges.
"Private investors and family offices are particularly active in the current market," said Director and head of research at CBRE Ireland, Colin Richardson.
"The hotel sector remains attractive to institutional investors and lenders given the strong trading performance of both Dublin and regional hotels."
