Dalata Hotel Group’s trading update for the second half of 2023 anticipates hotel revenue for 2023 to exceed €600m and adjusted EBITDA to be in excess of €220m. Group revenue per available room (RevPAR) is expected to be 3% ahead of 2022 levels.
The group has successfully started operations at three new hotels added to their portfolio in 2023, namely Maldron Hotel Finsbury Park, Clayton Hotel London Wall, and Clayton Hotel Amsterdam American. The performance of these hotels has been pleasing so far.
Dalata Hotel Group is looking forward to the completion of five new hotels in 2024. These include their first hotels in Brighton, Liverpool, and Edinburgh (four-star Clayton Hotel), as well as their fourth hotel in Manchester and fifth hotel in London. These additions will increase their portfolio by 834 rooms.
The group is optimistic about the outlook for 2024, with strong indicators across their customer segments. They expect the return of more direct flight connections and a recovery in corporate travel, which will contribute to their positive performance.
CEO Dermot Crowley said; “In our recent first-half results, we set out our firepower potential of €750m 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.”
