Dalata to Add 5,000 Rooms to Portfolio

By Publications Checkout
Dalata to Add 5,000 Rooms to Portfolio

Hotel group Dalata is expected to add 4,000 or 5,000 rooms to its portfolio over the next five-to-seven years.

The group currently has a portfolio of 7,700 rooms according to The Irish Times. It recently announced a 2015 pre-tax profit of €28.5 million and a 185% jump in revenues to more than €225 million.

Efforts are expected to be concentrated on its UK rooms.

Pat McCann, the CEO and Founder of Dalata, said; "We need to finish out the Irish project, but it is coming to a close". He also said that the group may build up to six new-build hotels in Dublin, including an 181-bedroom property it is planning for a site it recently acquired on Dublin’s Grand Canal.

The company this year completed the purchase of the Tara Towers Hotel in Dublin for €13.2 million, purchased a site in the centre of Dublin for €11.9 million and exchanged contracts to purchase Clarion Hotel Sligo (pictured).

Dalata, founded in June 2007, is the biggest hotel operator in Ireland. It raised €265 million in March 2014 in a listing on the AIM market in London and the ESM in Dublin. It also raised almost €500 million last year in debt and equity.