REG-Dalata Hotel Group PLC Dalata Hotel Group PLC: Trading Update

Dalata HotelAnnouncement

14/06/2023 07:00

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   Dalata Hotel Group PLC (DAL,DHG)
   Dalata Hotel Group PLC: Trading Update

   14-Jun-2023 / 07:00 GMT/BST

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      Trading Update

                         ISE: DHG              LSE: DAL

   Dublin and London  | 14 June  2023:  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, provides a  trading
   update for the second quarter of 2023.

   The Group has continued to trade  strongly and expects Adjusted EBITDA  to
   be in excess of  €100 million for  the six months  ending 30th June  2023.
   This reflects  a very  strong first  half trading  performance across  the
   Group’s existing hotels  and the continued  impact of new  hotels as  they
   ramp up. Dalata disclosed in April that Group ‘like for like’ RevPAR 1  i 
   was 28% ahead of 2019 levels for  the January to April period. RevPARi  is
   expected to be 29% ahead of 2019 levels for the H1 period.

   The Group’s  margin performance  has continued  to improve,  and  Dalata’s
   decentralised hotel  teams  are  successfully  managing  the  inflationary
   environment through the  use of  dynamic pricing, cost  management and  an
   increase in sustainability initiatives  delivering a reduction in  utility
   consumption.  The  Group   continues  to  utilise   innovation  to   drive
   efficiencies whilst protecting or enhancing both our employee and customer
   experience, this has been highly successful during the period.

   Dalata looks  forward with  confidence  to the  summer trading  period  as
   demand is robust across all  markets. We continue to  see a strong mix  of
   corporate and  leisure business  boosted by  the return  of  international
   travel and sustained domestic demand.

   ‘Like for like’ Group RevPARi ahead of 2022 levels: Q2 2023
   Dublin                                               +10%
   Regional Ireland                                     +15%
   UK                                                   +15%
   Group                                                +11%

   The Group continues  to execute  on its UK  growth strategy  with two  new
   London hotel  acquisitions, demonstrating  its  ability to  reinvest  Free
   Cashflow and expand its hotel  portfolio. Maldron Hotel Finsbury Park  and
   Clayton Hotel London Wall are due to commence operations for the Group  in
   the coming weeks. Development works on Dalata’s other pipeline hotels  are
   progressing well,  with Maldron  hotels  in Shoreditch  London,  Brighton,
   Liverpool and Manchester on track to  open in 2024.  These additions  will
   further enhance the  Group’s portfolio  of modern four-star  hotels as  it
   continues to deliver on its strategic growth plan.

   Dermot Crowley, CEO, Dalata said:

   “I am delighted with our performance  for the year to date. The  financial
   performance is the  result of  the dedication and  professionalism of  our
   teams in our hotels  and central office –  our people remain our  greatest
   strength. I am very pleased with the performance of the hotels we recently
   added to the  portfolio, it  gives me  great confidence  that the  current
   pipeline of  new  hotels  will  also  create  significant  value  for  our
   shareholders. We  continue to  deliver  on our  growth strategy  with  the
   exciting addition of two new hotels in London since the start of the year.
   The excellence of our  people, the ongoing strength  of demand across  our
   markets and the quality of our portfolio gives me great confidence for the
   remainder of the year.” 

                                       -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
   50 three and  four-star hotels with  10,953 rooms and  a pipeline of  over
   1,400 rooms. The Group currently has 29 owned hotels, 18 leased hotels and
   three management  contracts. Dalata  successfully operates  Ireland’s  two
   largest hotel brands,  the Clayton and  the Maldron Hotels.  For the  year
   ended 31 December 2022,  Dalata reported revenue of  €558.3 million and  a
   profit after tax of €96.7 million. Dalata is listed on the Main Market  of
   Euronext Dublin (DHG)  and the  London Stock Exchange  (DAL). For  further
   information visit:  2 www.dalatahotelgroup.com

    

    

   Contacts

   Dalata Hotel Group plc              Tel +353 1 206 9400
   Dermot Crowley, CEO                 investorrelations@dalatahotelgroup.com
   Shane Casserly, Corporate Development Director

   Carol Phelan, CFO
    Graham White, Head of Investor Relations
    
   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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   i RevPAR is stated on a ‘like for like’ basis and excludes the performance
   of hotels that newly opened or ceased trading under Dalata during the
   comparative years. For newly acquired, previously operating hotels, where
   pre-acquisition RevPAR data is available, these hotels are included on a
   ‘like for like’ basis.

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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:  TST
   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.:   250641
   EQS News ID:    1656283


    
   End of Announcement EQS News Service

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