33 Suites in Clarion Hotel Liffey Valley

RNS Number : 9587Q

Dalata Hotel Group PLC

18 September 2017

 

Dalata Enters into Agreement for 33 Suites in the 

Clarion Hotel Liffey Valley, Dublin 22

ISE: DHG                              LSE: DAL

Dublin, 18^th September 2017 | Dalata Hotel Group plc ("Dalata" or "the Company") is pleased to announce that it has entered into an agreement with Martin Ferris as Receiver to acquire the long leasehold interest of 33 suites in the Clarion Hotel Liffey Valley, Dublin 22, for a consideration of €8.58 million ("the Transaction"). It is expected that the Transaction will complete in September 2017.

As announced on 4^th September 2017, Dalata completed the acquisition of the core Clarion Hotel Liffey Valley (incorporating 158 bedrooms, the leisure centre, meeting rooms, reception, bar & restaurant, car-park and 2 vacant retail units).  This Transaction announced today, the equivalent of 99 rooms, will result in Dalata owning and operating 257 bedrooms in the property which it intends to re-brand as a Clayton Hotel in the final quarter of 2017.

The consideration is payable in cash.

Dermot Crowley, Deputy CEO Business Development and Finance, said: "We are delighted to acquire these additional bedrooms so quickly after the purchase of the core hotel and are very excited about the potential of the hotel under the Clayton brand."

ENDS

Contacts

Dalata Hotel Group PLC Dermot Crowley, Deputy CEO Business Development and Finance T: [phone] E: [e-mail]

Investor Relations & Public Relations FTI Consulting Melanie Farrell T: [phone] E: [e-mail]

Joint Company Brokers Davy Anthony Farrell T: [phone] E: [e-mail]

Berenberg Ben Wright T: [phone] E: [e-mail]

About Dalata

Dalata Hotel Group plc is Ireland's largest hotel operator, with a current portfolio of 38 hotels with over 7,500 rooms. Dalata successfully operates Ireland's two largest hotel brands, Clayton Hotels and Maldron Hotels across Ireland and the UK, as well as managing a small portfolio of partner properties. 26 of the hotels are owned by Dalata, nine hotels are operated under lease agreements and three are operated under management agreements.

For the half year 2017, Dalata reported revenue of €161.8 million (full year 2016: €290.6 million). Dalata is listed on the Main Market of the Irish Stock Exchange (DHG) and the London Stock Exchange (DAL).

For further information visit: www.dalatahotelgroup.com

 

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