Dalata Hotel Group has said that despite the “challenging environment” faced this year, the group’s earnings for the year ending 31 December 2020 are expected to be “marginally ahead of market expectations”.
The business, which operates as the Maldron Hotel brand and Clayton Hotel brand throughout Ireland and the UK, said the group remains in a “strong” financial position, with current cash and undrawn debt facilities of €293m (£264.1m) after deducting upcoming payments including quarterly rent and interest.
The hotel reported that during December, bookings have been encouraging, though still remain on “short lead times”.
In addition, occupancy for Q4 is currently projected to be 17% in Dublin, 28% in regional Ireland and 21% in the UK.
Dermot Crowley, deputy CEO – business development and finance, Dalata said: “2020 has been a very challenging year for people and communities across the world. The impact on the hospitality industry has been acute.
“In Dalata, our people have suffered significant losses of income through temporary layoffs, reduced working hours and salary cuts. However, we remain resilient and united in dealing with the ongoing impact of Covid-19. We note the very positive news surrounding vaccines over the last month and look forward to 2021 with renewed optimism.”
He added: “Our Central Office and hotel management teams remain in place and are enthusiastically looking forward to rebuilding the business as we go through 2021. We look forward to welcoming those customers who have not been able to visit us this year.
“We have an exciting pipeline of hotels to open over the next three years. Despite the devastating impact of Covid-19, we announced three new hotels during 2020 in Dublin, Brighton and Manchester. We are working with developers and site owners around the UK on potential new developments.”