Dublin hotels have cut their prices by as much as 40 per cent, with 5-star hotels offering the biggest discounts.
A new report from Savills Ireland found the average daily rate for luxury accommodation is €250, down from over €400 during the same time last year.
While 4-star buildings have rates of €130, down from €200. That's a drop of around 35 per cent.
It comes as Dublin remains under level 3 coronavirus restrictions, with people advised not to visit the county.
Over 3,000 hotel rooms, or 14 per cent of the total stock in the capital, are currently closed or in alternative use, such as for the provision of HSE accommodation.
Tom Barrett from Savills says many are struggling to fill rooms;
"It's very tough for the hoteliers and we certainly meet lots of them every day and they sometimes have less than 10 per cent occupancy in their hotel so that's a very quiet building during the week, weekends certainly have picked up."
