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Dalata Hotels, represented by estate agency Savills, has bought the Clayton Hotel in Cardiff from a private vendor for £24m.
Dalata – Ireland’s largest hotel operator – is the current occupier of the 216-bedroom hotel and has bought the four-star property, which features seven modern conference rooms and two restaurants, in an off-market deal.
Dermot Crowley, deputy CEO business development and finance at Dalata, said: “Clayton Hotel Cardiff has performed very strongly this year. We are delighted to be able to purchase the freehold interest of the hotel.
“This transaction is consistent with our stated strategy of buying out the freehold interests of those leased properties with future unpredictable rent reviews.”
The deal comes after Savills’ latest UK Hotel Investment report, which found overseas investors accounted for £809.9m of transactions to date – £297.8m was invested in the third quarter of the year alone.
