REG-Dalata Hotel Group PLC Dalata Hotel Group PLC: AGM-AGM Statement

Dalata HotelAnnouncement

25/04/2024 07:15

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   Dalata Hotel Group PLC (DAL,DHG)
   Dalata Hotel Group PLC: AGM-AGM Statement

   25-Apr-2024 / 07:00 GMT/BST

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                               2024 AGM Statement

                                        

      Reflecting on Dalata’s success and growth in the 10 years since IPO

                                        

                              ISE: DHG   LSE: DAL

    

   Dublin and London | 25 April 2024: Dalata Hotel Group plc (‘Dalata’ or the
   ‘Group’), the largest hotel operator  in Ireland, with a growing  presence
   in the  United  Kingdom and  Continental  Europe, is  holding  its  Annual
   General Meeting (“AGM”)  today at 11:30  am BST at  Clayton Hotel  Cardiff
   Lane, Sir  John  Rogerson’s  Quay,  Docklands,  Dublin.  Shareholders  are
   welcome to  attend  the  meeting  in person  or  participate  in  the  AGM
   electronically using the link below.

    

   At the AGM, John Hennessy, Chair of Dalata, will make the following
   statement:

   “In March this year we celebrated ten years since Dalata’s flotation on
   the stock exchange. Reaching this milestone encourages us to reflect on
   the strong progress and growth we have achieved during that time. In the
   year prior to flotation, the Group’s revenue was just over €60 million
   with hotel assets of €5 million. Ten years on, Dalata has become the
   leading hotel operator in Ireland and has significantly expanded its
   footprint, with 53 hotels across Ireland, the UK and Continental Europe,
   delivering over €600 million revenue in 2023 with hotels assets of €1.7
   billion at the end of last year. We remain committed to our belief that
   hospitality is all about people and Dalata’s success would not have been
   possible without the dedication and talent of our people who continue to
   deliver for our customers, our shareholders, and our other stakeholders.

   2023 marked another record performance for the Group in terms of revenue
   and free cashflow generation together with strong execution of our growth
   strategy. We added a hotel in Amsterdam, two hotels in London and secured
   a building conversion opportunity in Edinburgh, representing three very
   commercially attractive cities in our target markets. We have embraced a
   culture of innovation in our determination to increase efficiency and
   sustainability across our business. In 2023, we successfully protected
   margins despite the cost inflationary environment and reduced carbon
   emissions per room sold whilst maintaining strong customer and employee
   feedback scores.

   2024 has commenced with good performance for our UK portfolio which is
   expected to achieve modest RevPARi growth on January to April 2023. We
   also continue to see healthy levels of corporate demand across all
   regions. As reported during our full year results in February, there has
   been lower levels of trade in Ireland. While the Dublin market continues
   to digest the impact of new supply, trade improved during March compared
   to January and February. The timing and nature of events compared to 2023
   (such as the visit of US President in April 2023) in addition to the
   increased VAT rate from September 2023 has had an impact during the first
   four months. RevPAR 1  i  for the Group is expected to be 4% behind 2023
   for the period of January to April on a ‘like for like’ basis. As we look
   ahead, we remain optimistic in our outlook for the remainder of the year
   where trade typically is driven by stronger seasonal factors, supported by
   a strong events calendar, flight schedules and forward bookings for May
   and June. We also look forward to the greater contribution from the ten
   hotels added to the portfolio since 2022 as they mature and the additional
   contribution from the four new hotels opening this year.

   Earlier this week we launched our refreshed Clayton and Maldron brands.
   Our new brands reflect our commitment to delivering value while fostering
   meaningful connections with our people and customers and provide an
   exciting platform for continued growth. We are also excited that this year
   will see the opening of four new Maldron hotels across the UK, all
   centrally located in our target cities of Liverpool, Brighton, Manchester
   and London. The Group has considerable firepower available for further
   growth in line with our ambitious and disciplined growth strategy. We
   remain focussed 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.

   I feel a great sense of pride as I reflect on the growth, performance and
   operational enhancements we have achieved as a Group over the past ten
   years. The business continues to be extremely well served today, by
   talented and experienced people who embody the Dalata culture and vision,
   which together with our financial strength, positions us well as we look
   to the future, respond to challenges and take advantage of opportunities
   as they arise.”

   AGM details

   Shareholders can access the AGM, ask questions and vote, via a virtual
   meeting platform. This can be done by accessing the meeting website at
    2 meetnow.global/DHGIAGM2024 on the date appointed for the AGM. The
   results of the resolutions relating to the AGM will be published later
   today. Further information relating to the AGM is published on the
   Company’s website at
    3 https://dalatahotelgroup.com/investor-relations/shareholder-centre/

                                     -ENDS-

    

    

   About Dalata

   Dalata Hotel Group  plc is a  leading hotel operator  backed by €1.7bn  in
   freehold and long leasehold assets in  Ireland and the UK. Established  in
   2007, Dalata has become Ireland’s largest hotel operator with an ambitious
   growth strategy to expand its portfolio further in excellent locations  in
   select, large  cities  in  the  UK and  Continental  Europe.  The  Group’s
   portfolio comprises 53  primarily four-star hotels  operating through  its
   two main  brands, Clayton  and Maldron  Hotels, with  11,413 rooms  and  a
   pipeline of over 1,500 rooms. For the year ended 31 December 2023,  Dalata
   reported revenue of €607.7 million, basic earnings per share of 40.4  cent
   and Free Cashflow per  Share of 59.7  cent. Dalata is  listed on the  Main
   Market of Euronext Dublin (DHG) and  the London Stock Exchange (DAL).  For
   further information visit:  4 www.dalatahotelgroup.com

    

   Contacts

    Dalata Hotel Group plc             investorrelations@dalatahotelgroup.com
    Dermot Crowley, CEO                Tel +353 1 206 9400
   Carol Phelan, CFO
   Sean McKeon, Company Secretary and Head of Risk and Compliance
   Niamh Carr, Head of Investor Relations

    
    Joint Group Brokers                 
   Davy: Anthony Farrell               Tel +353 1 679 6363
   Berenberg: Ben Wright               Tel +44 20 3753 3069
                                        
   Investor Relations and PR | FTI     Tel +353 86 401 5250
   Consulting
   Melanie Farrell                      5 dalata@fticonsulting.com

    

   Note on forward-looking information

    

   This Announcement contains forward-looking  statements, which are  subject
   to risks and uncertainties because  they relate to expectations,  beliefs,
   projections, future plans  and strategies, anticipated  events or  trends,
   and similar expressions concerning matters that are not historical  facts.
   Such  forward-looking  statements   involve  known   and  unknown   risks,
   uncertainties and  other  factors, which  may  cause the  actual  results,
   performance or  achievements of  the Group  or the  industry in  which  it
   operates, to be materially different from any future results,  performance
   or achievements expressed or  implied by such forward-looking  statements.
   The forward-looking statements referred to in this paragraph speak only as
   at the  date  of this  Announcement.  The  Group will  not  undertake  any
   obligation  to  release  publicly  any   revision  or  updates  to   these
   forward-looking  statements  to  reflect  future  events,   circumstances,
   unanticipated events, new information or  otherwise except as required  by
   law or by any appropriate regulatory authority.

    

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    6  i  ‘Like for like’ RevPAR excludes hotels added to the portfolio
   during 2023.

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   Dissemination of a Regulatory Announcement, transmitted by EQS Group.
   The issuer is solely responsible for the content of this announcement.

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   ISIN:           IE00BJMZDW83, IE00BJMZDW83
   Category Code:  AGM
   TIDM:           DAL,DHG
   LEI Code:       635400L2CWET7ONOBJ04
   OAM Categories: 3.1. Additional regulated information required to be
                   disclosed under the laws of a Member State
   Sequence No.:   317747
   EQS News ID:    1888741


    
   End of Announcement EQS News Service

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