Dalata Profts Up 30%
Published on Mar 10 2015 4:00 PM in Hotel
Dalata, Ireland's biggest hotels group, announced a 30 per cent boost in revenue in 2014 in its first financial report since becoming a public company.
The group also announced the acquisition of the Holiday Inn Hotel in Belfast for £18.5 million, the first hotel it has bought in the city. The 170 bedroom, four-star hotel is located in Belfast's city centre.
Dalata recorded a pre-tax profit of €4.2 million on revenue of €79 million, up 30.4 per cent on 2013. It also announced plans to rebrand the Moran Bewleys Hotels, which it recently took over, as new four-star brand, Clayton Hotels. Chief executive Pat McCann said that business performed "very strongly" in 2014, as occupancy, revpar, and earnings were also all up on 2013, as reported in the Irish Times.
“The outlook is encouraging for the markets we operate within. However, recovery in provincial Ireland is still fragile and I welcome the continued support of the Government for the tourist industry. This support has contributed to increased visitor numbers and the creation of 30,000 new jobs,” said McCann.
Since its IPO last year, the group has invested in several hotels around the island, including Maldron Hotel Pearse Street, Dublin and Maldron Hotel Derry in 2014, as well as the Clayton Hotel in Galway and Whites Hotel in Wexford among others.