Dalata Hotel Group, the largest hotel operator in Ireland, has released its financial results for 2023, which show that turnover exceeded €600 million in the group for the first time.
The group reported adjusted EBITDA of €223 million, which is 22% up on last year.
UK Focus
Dalata noted that it has a strategic focus on the UK, where it currently operates 18 hotels, with a current pipeline of five.
In 2023, the group made acquisitions in London, including the Maldron Hotel Finsbury Park (£44.3 million/€51.7 million) and the Clayton Hotel London Wall (£53.4 million/€62.3 million), as well as acquiring a development site in Edinburgh’s city centre (£12.5 million/€14.5 million).
Expansion
This year, the group plans to open four new hotels across the UK – in London, Brighton, Liverpool and Manchester – totalling 834 rooms therein.
Dalata has also announced a 216-room extension at the Clayton Hotel Manchester Airport.
Outlook
The group noted that it remains optimistic in its trading outlook for 2024, supported by future demand indicators across its markets, including growing air traffic forecasts and strong event calendars for the remainder of the year.
Dalata noted that external research and surveys indicate that travel remains a high priority for consumers, while employment and consumer saving levels remain supportive of trading.
‘Exciting Year’
“Dalata’s growth strategy remains compelling. We combine our hotel operator and developer expertise, supported by a strong financial position, allowing us to be agile and capitalise on opportunities as they arise,” said Dermot Crowley, Dalata Hotel Group CEO.
“Twenty twenty-four [2024] will be another exciting year at Dalata. The UK remains our key strategic priority, as we open four hotels across that market, which will be our most operationally sustainable new-build hotels to date.
“I look forward to welcoming our first guests in Liverpool and Brighton, as we continue to grow our presence across the UK to over 5,000 rooms by the end of 2024.”
