Cavan has been among the hardest hit in the region in recent months with prices soaring by almost 60% on a year ago.
The latest figures show the Cavan Holiday Hotel has seen its annualised value rise by more than €1.8m since April.
The hotel’s annualised operating income rose to €1,056,851 in the three months to March this year, according to data compiled by TheJournal.ie.
The total turnover increased to €7,842,865, and the hotel’s overall revenue was €1m, up from €1million a year earlier.
Cork has a long-standing reputation for being a hotspot for illegal hotel activities and the Cork Holiday Hotel and Spa is one of the largest illegal hotels in the country.
The new figures show that in March, there were a total of 547 hotel rooms in the Cointrains, with a total capacity of more than 10,000.
That’s up from a total occupancy of just under 5,000 in March 2017.
There are also plans to build a new hotel on the site of the old Cointraes Hotel in the city.