Acquisition

RNS Number : 4345N

Dalata Hotel Group PLC

26 October 2016

 

Dalata Acquires Freehold Interest of

the Clayton Hotel Cardiff, Wales

ISE: DHG                              LSE: DAL

Dublin, 26 October 2016 | Dalata Hotel Group plc ("Dalata" or "the Company") is pleased to announce that it has acquired Rush (Central) Limited ("Rush") which holds the freehold interest of the Clayton Hotel Cardiff for £24 million (c. €27 million).

The Clayton Hotel Cardiff is a 4 star hotel, excellently located on St. Mary Street, in Cardiff city centre, a short walk from Cardiff Central train station and the Principality (formerly Millennium) Stadium. The hotel contains 216 air-conditioned bedrooms, a bar and restaurant, a fitness suite and extensive meeting room facilities. The Company currently holds a leasehold on the property until 2046, at an annual rent of £1.511m per annum subject to upward only rent reviews at five year intervals.

Rush also owns a restaurant located on the ground floor of the building, which is leased to Viva Brazil Cardiff Ltd, on a 20 year lease, expiring in 2032.

Dermot Crowley, Deputy CEO Business Development and Finance, 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."

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 Jonathan Neilan/Patrick Berkery T: [phone] / [phone] E: [e-mail]

Sponsor and Broker Davy Anthony Farrell T: [phone] E: [e-mail]

About Dalata

Dalata Hotel Group plc is Ireland's largest hotel operator, with a current portfolio of 40 three and four star hotels with over 7,500 rooms. Dalata successfully operate Ireland's two largest hotel brands, the Clayton and the Maldron Hotels across Ireland and the UK, as well as managing a portfolio of partner hotels. 24 of the hotels are owned by Dalata, 9 hotels are operated under lease agreements and 7 are operated under management agreements.

For the full year 2015 Dalata reported revenue of €225.7 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

http://dalatahotelgroup.com/about-us/management-team/

 

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