REG-Dalata Hotel Group PLC Dalata Hotel Group PLC: Sale of Clayton Crown Hotel, London

Dalata HotelAnnouncement

12/05/2022 07:15

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   Dalata Hotel Group PLC (DAL,DHG)
   Dalata Hotel Group PLC: Sale of Clayton Crown Hotel, London

   12-May-2022 / 07:00 GMT/BST
   Dissemination of a Regulatory Announcement, transmitted by EQS Group.
   The issuer is solely responsible for the content of this announcement.

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              Dalata announces sale of Clayton Crown Hotel, London

                                        

                               ISE: DHG  LSE: DAL

    

   Dublin and London | 12 May 2022: Dalata Hotel Group plc ("Dalata" or  "the
   Company"), the largest hotel operator in Ireland, with a growing  presence
   in the United Kingdom and continental Europe, announces that it has signed
   contracts for  the  sale of  the  Clayton  Crown Hotel,  London,  and  the
   underlying business,  to a  company controlled  by AG  Hotels Group  (“the
   Purchaser”), for a cash consideration  of approximately £21 million  (“the
   Transaction”). The transfer of  the business is  scheduled to complete  by
   late June 2022.

   The Clayton  Crown  Hotel,  a  152-bedroom  four-star  hotel,  located  in
   Cricklewood, London  NW2, has  always performed  well, but  was no  longer
   deemed a core hotel asset with the Company’s increasing strategic focus on
   central locations. The consideration represents excellent value for Dalata
   and the proceeds will be reinvested in the business.

   This Transaction is  a transfer of  a going concern,  however the  Clayton
   branding is not included as part of the arrangement. On completion of  the
   contracts, the hotel will no longer have any contractual relationship with
   the Company.

   Dermot Crowley, CEO, Dalata said:

   “I would like to take this opportunity to thank the team at Clayton Crown
   Hotel for the significant contribution they have made since the hotel was
   acquired as part of the Moran Bewley acquisition in 2015.

   This Transaction represents excellent value and will assist us in our
   continued focus on securing central opportunities in attractive cities of
   the UK and continental Europe. London continues to be a priority for
   Dalata, and we look forward to opening our new hotel in Shoreditch in the
   second half of 2023.

   Our immediate focus now, will be to communicate with our employees and
   assist them with the transition. We will be retaining the hotel management
   within the Company; all other employees will have the opportunity to apply
   for vacant positions within Dalata or they can choose to remain in their
   current roles in the hotel.”     

                                     -ENDS-

   About Dalata

   Dalata Hotel Group plc was founded in  August 2007 and listed as a plc  in
   March 2014. Dalata  is Ireland’s  largest hotel operator,  with a  growing
   presence in the UK and continental Europe. The Group's portfolio comprises
   48 predominately four-star hotels with 10,511 rooms and a pipeline of over
   1,500 rooms. The Group currently has 28 owned hotels, 17 leased hotels and
   three management  contracts.  Dalata successfully  operate  Ireland’s  two
   largest hotel brands,  the Clayton and  the Maldron Hotels.  For the  year
   ended 31 December 2021,  Dalata reported revenue of  €192.0 million and  a
   loss after tax of  €6.3 million. Dalata  is listed on  the Main Market  of
   Euronext Dublin (DHG)  and the  London Stock Exchange  (DAL). For  further
   information visit:  1 www.dalatahotelgroup.com

   Contacts

   Dalata Hotel Group plc              Tel +353 1 206 9400
   Dermot Crowley, CEO                 investorrelations@dalatahotelgroup.com
   Carol Phelan, CFO
   Shane Casserly, Corporate Development Director
    
   Joint Company 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                     dalata@fticonsulting.com

    

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   ISIN:           IE00BJMZDW83, IE00BJMZDW83
   Category Code:  MSCM
   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.:   161110
   EQS News ID:    1350183


    
   End of Announcement EQS News Service

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