Dalata is set to complete four new hotels in 2024, adding 843 rooms to its portfolio as it expresses confidence in demand across its business and leisure segments.
The hotel operator said the new hotels in Brighton, Liverpool, Manchester and London are on track to open in mid-2024. Two of the new hotels will mark Dalata’s debut in Brighton and Liverpool, another will mark its fourth in Manchester and the last hotel will be Dalata’s fifth in London.
The group’s portfolio comprises 53 three and four-star hotels with 11,412 rooms and a pipeline of over 1,300 rooms.
Turning to its outlook for 2024, Dalata noted that strong lead indicators across its customer segments, including the return of more direct flight connections and the anticipated further recovery in corporate travel means it’s very optimistic on performance on 2024.
Dalata expects 2023 revenue to exceed €600 million, up from 2022’s €516 million and adjusted Ebitda of more than €220 million, up from 2022’s €183 million.
Why it matters
Dalata has continued to grow significantly in 2023, with its quick succession of high-value deals – especially during a year which has seen muted transactions – securing it a place on the list of standout players in the sector during the year. It seems that growth is set to continue in 2024.
What they said
Dalata CEO Dermot Crowley said: "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.”