Dalata In Rude Health With More Acquisitions In The Pipeline
Ireland's largest hotel operator Dalata has said the Irish hotel market has maintained its strong growth momentum from last year during the first four months of 2016, and is performing ahead of its expectations.
At its AGM this morning (27 April) in Dublin, John Hennessy, Chairman of Dalata, said following a "transformative year of growth and development in 2015", the group has enjoyed a very encouraging start to 2016.
"On an overall basis, the markets in which we operate have maintained their strong growth momentum from 2015 and are performing ahead of our expectations," he said. "Management is very satisfied with the trading performance of the group’s hotel portfolio in the first four months of the year."
Dalata operate Ireland’s two largest hotel brands, the Clayton and the Maldron Hotels, across Ireland and the UK, as well as managing a portfolio of partner hotels.
Hennessy added that since the year end the company has completed the acquisition of the Tara Towers Hotel, the Clarion Hotel Sligo (pictured) and the Choice Hotels Ireland business made up of leasehold interests at the Clarion Hotels in Cork and Limerick, The Gibson Hotel in Dublin and the Croydon Park Hotel in London, as well as a short-term management contract at the Clarion Liffey Valley Hotel in Dublin.
"The Group has also taken the first steps in the promised development of new hotels with the acquisition of a site with planning permission for a 181 bedroom four star hotel at Charlemont Street in Dublin and the recent announcement that it has signed a contract for the development of a 206 bedroom hotel at Brunswick Street in Belfast," he said.
"The integration of the acquired hotels is progressing smoothly and plans for investment in refurbishment and upgrade works at the Tara Towers are being advanced. The extension and upgrade works at Clayton Hotel Chiswick, London are close to completion and the maintenance capital expenditure programme is proceeding as planned.
"The pipeline for new opportunities remains strong and we will continue our disciplined approach to increase our portfolio of Maldron and Clayton hotels.”