Dalata revenues to exceed €600m in FY23

Dalata Hotel Group expects revenue for 2023 to exceed €600m (£516m), increasing from €516m (£444m) reported in 2022. Adjusted EBITDA for the year is expected to be in excess of €220m (£189m), up from €183m (£157m) the previous year. For the second half of 2023, group RevPAR is expected to be 3% ahead of 2022 levels. The hotel group has also announced that it has started operations at the three hotels added to the portfolio – the Maldron Hotel Finsbury Park, Clayton Hotel London Wall and Clayton Hotel Amsterdam American. In addition, the group looks forward to the completion of four new hotels during 2024, with its first ones in both Brighton and Liverpool, its fourth hotel in Manchester and its fifth hotel in London. So far development works are “progressing well” and the hotels are on track to open in mid-2024. Dermot Crowley, CEO of 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. “In our recent first-half results, we set out our firepower potential of €750m (£645m) 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.” Crowley concluded: “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.”