Dalata Hotel Group has announced that it has exchanged contracts for the sale of Clayton Whites Hotel Wexford to Neville Hotels for €21 million.
Under the terms of the transaction, the Clayton Whites Hotel Wexford will transfer to Neville Hotels, with Dalata commencing a of employee engagement to help the transition. Neville Hotels is owned by local Wexford man, Seamus Neville.
“We are delighted to add Whites Hotel in Wexford to our portfolio of hotels," said Therese Kelly, director of Neville Hotels. "This acquisition marks our sixth hotel for the group and we feel this hotel will complement our new property in Curracloe, The Ravenport Resort, very well."
Substantially all of the net proceeds from this transaction and the sale of Maldron Hotel Wexford, are being returned to shareholders through the current share buyback programme announced on 15 October 2024.
Dalata said it remains committed to the Irish market and its portfolio where it is the leading hotel operator through its Clayton and Maldron brands. The transaction is expected to be completed in January. Savills advised Dalata on the transaction.
“The Clayton Whites Hotel Wexford has been a significant part of Dalata’s journey, and I would like to take this opportunity to thank the team there for all their hard work and commitment," said Dermot Crowley, CEO of Dalata Hotel Group.
"The hotel has a strong management team in place and a proven track record of strong performance, providing me with confidence that it will continue to excel as part of Neville Hotels."
