REG - Dalata Hotel Group - Agreement to Lease Newcastle Hotel <Origin Href="QuoteRef">DHG.I</Origin>

Dalata HotelAnnouncement

17/11/2016 07:05

RNS Number : 3978P
Dalata Hotel Group PLC
17 November 2016
Dalata Hotel Group plc
("Dalata" or the "Company" or the "Group")
Dalata Signs Agreement for Lease on new Maldron Hotel in Newcastle, England
Dublin, 17 November 2016 | Dalata Hotel Group plc ("Dalata" or "the Company") is pleased to announce that it has signed an agreement to lease a new Maldron Hotel, to be built in Newcastle, with ES Newgate Limited, a subsidiary of McAleer & Rushe.
The new hotel will be a 4 star property, excellently located on Newgate Street in the city centre. The site is a short walk from Central Station and close to St James' Park, home to Newcastle United FC. The hotel will have 226 air-conditioned bedrooms, a bar, restaurant and meeting room facilities. The hotel will be part of a mixed-use development which also incorporates student accommodation and retail space. 
On completion of construction, Dalata will commence operations in the hotel through a 35 year Operating Lease which will be subject to five year rent reviews linked to the Retail Price Index. It is expected that the hotel will open in the summer of 2018.
Dalata currently operates nine hotels in the UK including six Clayton hotels with two in London, and one in each of Belfast, Cardiff, Leeds and Manchester. The Group also operates the Croydon Park Hotel, London, a Maldron hotel in Belfast and one in Derry. Newcastle will be Dalata's first Maldron Hotel in England.
Dermot Crowley, Deputy CEO - Business Development and Finance, said: "This development provides us with an exciting opportunity to launch our Maldron brand in the English market, in line with our strategy of rolling out our Clayton and Maldron brands in the large regional UK cities. We are delighted to be working on this project with our development partner, McAleer & Rushe, and look forward to opening in Newcastle in summer 2018."
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Contacts
Dalata Hotel Group plc
Dermot Crowley, Deputy CEO Business Development and Finance
T: +353 1 206 9400
E: dcrowley@dalatahotelgroup.com
 
Investor Relations & Public Relations 
FTI Consulting 
Jonathan Neilan/Patrick Berkery
T: +353 86 2314135 / +353 86 6025988
E: dalata@fticonsulting.com
Sponsor and Broker
Davy 
Anthony Farrell
T: +353 679 6363
E: anthony.farrell@davy.ie
About Dalata
Dalata Hotel Group plc is Ireland's largest hotel operator, with a current portfolio of 40 three and four star hotels with over 7,500 rooms. Dalata successfully operate Ireland's two largest hotel brands, the Clayton and the Maldron Hotels across Ireland and the UK, as well as managing a portfolio of partner hotels. 24 of the hotels are owned by Dalata, 9 hotels are operated under lease agreements and 7 are operated under management agreements.
For the full year 2015 Dalata reported revenue of 225.7 million. Dalata is listed on the Main Market of the Irish Stock Exchange (DHG) and the London Stock Exchange (DAL).
For further information visit: www.dalatahotelgroup.com
http://dalatahotelgroup.com/about-us/management-team/

This information is provided by RNS
The company news service from the London Stock Exchange
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