Dalata reports record year of growth
Dalata hotel group has reported a record year of growth with revenue for 2023 expected to exceed €600m (£517m).
Ireland's largest hotel operator has been expanding its presence in the UK and Europe, with plans to add four hotels to its portfolio in 2024 in Brighton, Liverpool, Manchester and London.
Earnings before interest, taxes, depreciation and amortization (EBITDA) for 2023 is expected to exceed €220m (£189m), with group RevPAR for the second half of the year 3% ahead of 2022 levels.
Dermot Crowley, CEO, said: "Dalata is on course to deliver another exceptional result this year driven by strong operational performance across our existing hotels and the impact of new additions to the portfolio. This is a testament to the hard work, professionalism and dedication of all our people across our hotels and central office.
"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. 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."
