Dalata Group reports €77.3m profit before tax for 2017
The company is hoping to build on these results with plans to open 1,200 rooms during 2018
Irish hotel group Dalata has posted a strong 2017 performance including €77.3m (£68.3m) in pre-tax profit.
The 75% increase compared with the previous year was reported in the group’s financial results for the year ending 31 December 2017, which also showed an 19.9% increase revenue of €348.5m (£308m), and adjusted EBITDA of €104.9m (£93m), up 23.3%.
Dalata Hotel Group operates 38 hotels in the UK and Ireland across its Clayton and Maldron brands, of which 26 are owned by Dalata, nine are operated under lease agreements and three are operated under management agreements.
The group’s occupancy for those hotels was 83.1%, up from 82.1%, and the company has a further total pipeline of 2,200 rooms and is hoping to open 1,200 rooms during 2018.
The Maldron Hotel Belfast City opens on 13 March and the Maldron Hotel Newcastle is scheduled to open in early 2019, with further hotels planned for Glasgow and Manchester, two of 20 cities the group is targeting as part of its UK expansion plans.
Pat McCann, Dalata Group chief executive, said: “I am particularly pleased with the performance at our UK hotels. Our London hotels achieved RevPAR growth of 11.9% versus the city growth of 4.4%.
“Our regional UK hotels showed RevPAR growth of 7.8%, with our hotels in Cardiff, Manchester and Leeds outperforming the market. These results are a testament to our decentralised model which continues to underpin everything we do and is central to our success.”
