Dalata’s new management company Scandic plans a scheme of investment across the group’s hotels in Ireland.
Scandic assumed operational responsibility for Dalata Hotel Group last Monday under a management agreement that covers 56 hotels with 12,219 rooms in Ireland and UK, with Scandic receiving 4pc of revenues as quarterly fee.
Dalata’s existing management team leads day-to-day operations with support from Scandic representatives. The acquisition values hotel operations at €500m, financed through cash and debt, following €1.4bn takeover by Pandox and Eiendomsspar.
Jens Mathiesen shared “I plan to enhance Dalata’s position in Ireland and England – and won’t put “any brakes” on the company’s growth.”
