Dalata revenues hit record €500m in FY22

Dalata Group has reported that revenues from hotel operations hit a record €515.7m (£426.4m) in FY22, up by 20% against 2019, while adjusted EBITDA reached €183.4m (£151.6m) for the year ended 31 December 2022. 

The group’s RevPAR has increased by 14% on pre-pandemic like-for-like, while in the final quarter of 2022 RevPAR rose by 21% on the same period in 2019. 

In addition, the hotel operator’s profit after tax reached €96.7m (£79.9m), an increase of 24% on 2019 results. 

During 2022, the group added an additional 1,900 rooms to its portfolio, with a pipeline of 1,333 rooms to be added in the coming year. Dalata also opened its 50th hotel, the Clayton Hotel in Glasgow, in October 2022.  

In light of its latest results, the group has plans to reintroduce dividends in the second half of 2023. 

According to the group, it remains “cautiously optimistic” on its outlook for 2023, as Dalata’s like-for-like RevPAR for January and February is expected to be 17% ahead of 2019 levels in Dublin, 54% in regional Ireland and 27% in the UK. 

Dermot Crowley, CEO of Dalata Hotel Group, said: “As I reflect on 2022, I am very pleased with the group’s recovery and record performance. We have emerged from the pandemic and its after-effects with a business that has grown in scale and ambition. 

“I believe Dalata can respond effectively to the challenges faced by our industry utilising these strategic pillars to optimise our product offering, streamline our processes, drive innovation while maintaining a healthy bottom line and to manage and grow our business responsibly and sustainably.”

He added: “We remain confident in our ability to outperform with our modern hotel portfolio, our focus on sustainability, our decentralised operating model and our track record of providing a superior guest experience. I believe Dalata offers a different way, a better way to deliver success and growth, sustainably for all our stakeholders.”