Dalata has expressed optimism for its 2024 trading performance, which is expected to be aided by new additions to its portfolio.
In 2023, the hotel operator acquired hotels in London - including the £22.3 million Maldron Hotel Finsbury Park and the £53.4 million Clayton Hotel London Wall - as well as acquiring a development site in Edinburgh city centre for £12.5 million. Dalata added it expects its UK hotel rooms to exceed 5,000 by the end of 2024, adding it is focused on growing in 11 key cities in the UK and establishing a presence in targeted large European cities with a strong mix of corporate and leisure demand.
This year, the Dalata will open four new hotels across the UK, in London, Brighton, Liverpool and Manchester. It will also undergo a £40 million extension of the Clayton Hotel Manchester Airport, adding 216 rooms.
Looking ahead, the company said 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 as well as a greater contribution from the hotels recently added to the portfolio as they mature.
For 2023, Dalata posted revenue of €607.7 million, up 18 per cent on 2022’s €515.7 million, with pretax profit of €105.5 million, down 4 per cent from €109.7 million the year before. Adjusted Ebitda was €223.1 million, up 22 per cent year-on-year. Occupancy was at 80 per cent, up YoY from 75.8 per cent, revpar was up 12 per cent to €114.67, and average room rate stood at €143.36, up 6 per cent from 2022.
What they said
Dermot Crowley, CEO of Dalata Hotel Group said: 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. 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.