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

Dalata HotelAnnouncement

13/12/2023 07:15

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

   13-Dec-2023 / 07:00 GMT/BST

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                 Trading Update - Another Record Year of Growth

          Acquisitions in London, Edinburgh and Amsterdam during 2023

    Pipeline of 834 rooms due to open across the UK in 2024 including fifth
                                hotel in London

                         ISE: DHG              LSE: DAL

    

   Dublin and London | 13 December 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 half of 2023.

   The Group continues to deliver  an exceptional performance through  strong
   trading and sustained growth. Hotel revenuei for the year 2023 is expected
   to exceed €600 million (2022: €516 million) and Adjusted EBITDA 1  i   for
   the year is expected to be in excess of €220 million (2022: €183 million).
   For the second  half of  2023, Group RevPAR 2  ii   is expected  to be  3%
   ahead of 2022 levels.

   Operations have successfully commenced  at the three  hotels added to  the
   portfolio during 2023  namely Maldron Hotel  Finsbury Park, Clayton  Hotel
   London Wall and  Clayton Hotel  Amsterdam American. The  Group is  pleased
   with the performance delivered to date at each of these hotels.

   The Group looks forward to the completion of four new hotels during  2024,
   with its first hotel in both  Brighton and Liverpool, its fourth hotel  in
   Manchester and its fifth hotel in London.  This will add 834 rooms to  the
   portfolio. Development works are  progressing well and  the hotels are  on
   track to open in mid-2024.

   The Group  is  optimistic  in  its  outlook  for  2024  with  strong  lead
   indicators across  our customer  segments, including  the return  of  more
   direct  flight  connections  and  the  anticipated  further  recovery   in
   corporate travel.

    

   Dermot Crowley, CEO, Dalata said:

   “Dalata is  on course  to  deliver another  exceptional result  this  year
   driven by strong  operational performance across  our existing hotels  and
   the impact of new additions to the  portfolio. This is a testament to  the
   hard work, professionalism  and dedication  of all our  people across  our
   hotels and central office.

   In our recent first-half  results, we set out  our firepower potential  of
   €750 million 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.

   Our growth ambitions, coupled  with strong demand  across our markets  and
   our financial capacity to secure attractive opportunities underscores  our
   ongoing ability to deliver value to our shareholders.”

                                       -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
   53 three and  four-star hotels with  11,412 rooms and  a pipeline of  over
   1,300 rooms. The Group currently has 31 owned hotels, 19 leased hotels and
   three management  contracts. Dalata  successfully operates  Ireland’s  two
   largest hotel brands,  the Clayton  and the  Maldron Hotels.  For the  six
   month period ended 30 June 2023, Dalata reported revenue of €284.8 million
   and a profit  after tax of  €42.0 million.  Dalata is listed  on the  Main
   Market of Euronext Dublin (DHG) and  the London Stock Exchange (DAL).  For
   further information visit:  3 www.dalatahotelgroup.com

   Contacts

   Dalata Hotel Group plc              Tel +353 1 206 9400
   Dermot Crowley, CEO                 investorrelations@dalatahotelgroup.com
   Carol Phelan, CFO
    Niamh Carr, Head of Investor Relations and Strategic Forecasting
    
   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                      4 dalata@fticonsulting.com

    

    

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    5  i  Refer to the Supplementary Financial Information within the Group’s
   results announcement for the six months ended 30 June 2023 for definitions

    6  ii  RevPAR is stated on a ‘like for like’ basis and excludes the
   performance of hotels that newly opened or ceased trading under the Group
   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.:   291536
   EQS News ID:    1795499


    
   End of Announcement EQS News Service

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References

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