Dalata Hotel Group, the largest hotel operator in Ireland, has provided a trading update for the second half of 2023, which shows that hotel revenue for the year is expected to exceed €600 million (2022: €516 million) and adjusted EBITDA for the year is expected to be in excess of €220 million (2022: €183 million).
For the second half of 2023, group RevPAR is expected to be 3% ahead of 2022 levels.
“Dalata is on course to deliver another exceptional result this year, driven by [a] strong operational performance across our existing hotels and the impact of new additions to the portfolio,” said Dermot Crowley, CEO.
“This is a testament to the hard work, professionalism and dedication of all our people across our hotels and central office.”
Maldron And Clayton
Dalata is planning the completion of four new hotels during 2024, with its first hotels in both Brighton and Liverpool, its fourth hotel in Manchester, and its fifth hotel in London.
This will add 834 rooms to the portfolio, and Dalata claims that the hotels are on track to open in mid-2024.
“In our recent first-half results, we set out our firepower potential of €750 million to grow in the medium term, beyond our currently announced pipeline,” said Crowley.
“Since then, we have secured our second hotel in continental Europe, with the addition of the newly rebranded Clayton Hotel Amsterdam American and the acquisition of our first site in Edinburgh, where we will develop a four-star Clayton Hotel.
“Our growth ambitions, coupled with strong demand across our markets and our financial capacity to secure attractive opportunities, underscores our ongoing ability to deliver value to our shareholders.”