Dalata Hotels’ share price soars after its revenues reach new highs
Dalata Hotels have seen its share price soar 6.5 per cent this morning at 367 pence after the group saw its revenues reach their highest level since formation.
The Irish hotel chain, which launched in 2007, saw its revenues reach €500m (£440m) for the first time since trading in FY22 , as the group continues its expansion across Ireland, UK and Europe.
The group’s, which operates the Maldron and Clayton Hotel brands, saw revenue per available room (RevPAR), the metric to measure a hotel’s overall success, up 14 per cent at 106m (£93m) up from €104m (£91m) in 2019 .
Dalata, which has two Maldron and two Clayton hotels in London, generated total UK revenue of £130.3m in 2022, up 50 per cent from £43.6m in 2019.
The Irish group also said it has an “ambitious” UK growth strategy in place and has recently acquired a new 192-bedroom hotel at Finsbury Park, in North London for £44.3m.
Dermot Crowly, chief executive of Dalata Hotels, told City A.M that the group is also currently building a new 160-room Maldron Hotel in Shoreditch.
Looking ahead, Dermot Crowley, chief executive of Dalata Hotel, said that the group is “well set “to capitalise on the opportunities that will “undoubtedly arise”.
He said: “We continue our ambitious UK expansion plans with the recent purchase of Maldron Hotel Finsbury Park, London due to open in summer 2023 to be closely followed by our Maldron Hotel Shoreditch, London.”
Across its portfolio Dalata Hotels has over 50 hotels in UK, ROI and Germany.