That is according to a spokesman for the Galway Rhatigan Group which yesterday welcomed An Bord Pleanála’s decision to give the new extension the go-ahead.
The group’s Luxor Investments had been seeking an eight-storey extension. The move would have added 103 rooms, bringing the total to 255.
The extension was reduced to six storeys following the group revising its plan.
Dublin City Council had earlier this year given the plan the go-ahead but An Taisce placed a question mark over the project after lodging an appeal with An Bord Pleanála.
The Rhatigan Group spokesman said that the group is aiming to have the project complete by the second half of 2019.
He said the project will create 125 construction jobs plus 20 to 30 hotel jobs when complete.
He said: “It is a very positive decision and will some way to address the obvious lack of hotel rooms in Dublin.”
The decision coincides with a separate Dublin City Council decision giving the go-ahead for an 18-bedroom extension to the Gresham Hotel on Dublin’s O’Connell Street.
A report by the Irish Tourist Industry Confederation found there is a need for 30 more hotels, providing 5,000 additional rooms, in the capital by 2020/21.
Failte Ireland recently warned that there is a major threat to the future of tourism in Dublin with the acute shortage of hotel bedrooms in the city centre.
In a submission to Dublin City Council Mary Stack of Fáilte Ireland said: “The current demand far exceeds supply and inevitably in a scenario such as this, prices are inflated giving the message internationally that Dublin is not a competitive destination.”
The Rhatigan spokesman said that the Radisson Blu hotel “is performing very strongly. It is a top quality hotel with a very strong clientele.”
The appeals board gave the plan the go-ahead having regard to the nature and scale of the proposed development and that it would not seriously injure the amenities of the area or of property in the vicinity or give rise to a traffic hazard. In its appeal, An Taisce claimed that the proposal represented gross overdevelopment due to its size, proximity & location and would cause an adverse impacts on residential amenity and result in property devaluation.
An Taisce told An Bord Pleanála that if the plan doesn’t under significant revision, the board should not hesitate in refusing planning permission.
The hotel, off South Great George’s Street, has been posting strong profits in recent years. The most recent accounts show that operating profits in 2015 had risen by 62pc to €1.345m. The hotel was completed in June 2007 and built at a cost of €45m.
The planning permission granted coincides with a flurry of planning applications currently being decided by An Bord Pleanála and Dublin City Council as hoteliers look to capitalise on the boom in the Dublin hotel industry.