Dalata announces 80% profit increase and Manchester hotel plans

05 September 2017 by
Dalata announces 80% profit increase and Manchester hotel plans

Dalata Hotel Group, Ireland's largest hotel operator, has announced an 80% profit increase in its results for the six months to 30 June 2017, as well as plans for a new hotel in Manchester.

Pre-tax profit increased to €32.7m (£30.1m), while adjusted EBITDA of was up 27% to €44.9m (£41.3m), and revenue grew 24.4% to €161.8m (£148.8m).

Group revenue per available room (revpar) was up 9.8% to €82.27 (£75.62).

Plans for an agreement to lease a new 300-bedroom Clayton hotel in the centre of Manchester on Portland Street with Property Alliance Group were also revealed. the hotel is expected to open in mid-2020.

Although the group expressed concern about the uncertainty of geo-political events and significant fluctuations in the value of sterling, it noted that the UK hotel market appears to be benefiting from the weaker pound.

Pat McCann, Dalata Group chief executive, said: "I am very pleased with the opportunity that we have secured for a new 300 room Clayton hotel in the centre of Manchester. The location at Portland Street is ideal and Manchester is one of the most attractive cities in the UK to operate a hotel.

"Our UK portfolio has had a very strong performance to date in 2017 and we significantly outperformed the market in the cities in which we operate.

"The second half of 2017 will be a busy period for the group. We will continue to explore the exciting opportunities which exist in the UK and Irish hotels markets and will continue to work on our development projects and extensions."

Dalata has a current portfolio of 38 hotels, mainly operated under the Clayton and Maldron brands. Of these, 26 are owned by Dalata, nine operated under lease agreements, and three operated under management agreements.

Dalata agrees sale and leaseback of Hotel La Tour (Birmingham) >>

Dalata sells leasehold interest in Croydon Park hotel >>

Dalata acquires Hotel La Tour Birmingham >>

Dalata completes sale and leaseback of Cardiff's Clayton hotel >>

Videos from The Caterer archives

Are you looking for a new role? See all the current hospitality vacancies available with The Caterer Jobs

The Caterer Breakfast Briefing Email

Start the working day with The Caterer’s free breakfast briefing email

Sign Up and manage your preferences below

Check mark icon
Thank you

You have successfully signed up for the Caterer Breakfast Briefing Email and will hear from us soon!

Jacobs Media Group is honoured to be the recipient of the 2020 Queen's Award for Enterprise.

The highest official awards for UK businesses since being established by royal warrant in 1965. Read more.


Ad Blocker detected

We have noticed you are using an adblocker and – although we support freedom of choice – we would like to ask you to enable ads on our site. They are an important revenue source which supports free access of our website's content, especially during the COVID-19 crisis.

trade tracker pixel tracking