Dalata Confirms Stake Deals In Two Dublin Hotels

By Dave Simpson
Dalata Confirms Stake Deals In Two Dublin Hotels

Dalata Hotel Group has announced that it has received clearance from the Competition and Consumer Protection Commission to acquire the freehold interest of certain elements of the Clayton Hotel Cardiff Lane, Dublin 2, and the Clarion Hotel, Liffey Valley, Dublin 22.

The acquisition of the two properties is expected to close over the coming weeks.

In May, Dalata announced that it had entered into the agreement for the stakes in the two Dublin hotels for €62.5 million.

Dalata has aquired the freehold interest of Clayton Hotel Cardiff Lane's ground and lower ground floors, 170 bedrooms and vacant ground floor area, bringing the total number of bedrooms owned by Dalata at the Clayton Cardiff Lane to 193. The company holds a lease on these elements until 2040, at an annual rent of €2.524m per annum, subject to upward only rent reviews at five year intervals.