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Dalata Hotel Group expects its RevPar to be 4% lower against the comparative period the prior year, due to a “lower level of trade” in Ireland so far in 2024.
However, the group expects its UK portfolio to achieve “modest” RevPar growth in the first four months of 2024, while corporate demand levels remain healthy.
While the Irish hotel group noted that trade improved in March compared to January and February, it added in a statement ahead of its AGM that Dublin “continues to digest the impact of new supply”.
However, the Clayton and Maldron operator remains optimistic in its outlook for the rest of the year due to seasonal factors, such as events, flight schedules and forward bookings.
Four Maldron hotels will also open in the UK this year in Liverpool, Brighton, Manchester and London.
John Hennessy, chair of Dalata, said: “The timing and nature of events compared to 2023 (such as the visit of US President in April 2023) in addition to the increased VAT rate from September 2023, has had an impact during the first four months.
“We also look forward to the greater contribution from the ten hotels added to the portfolio since 2022 as they mature and the additional contribution from the four new hotels opening this year.”
Dalata saw sales rise to €607.7m (£519.7m) in 2023, spelling a rise of 18% from the prior year, while EBITDA for 2023 rose 22% to €223.1m (£190.8m) from 2022.
