Acquisition

RNS Number : 6333T

Dalata Hotel Group PLC

15 November 2019

 

Dalata Hotel Group announces new

operating and leasehold interest in The Tamburlaine Hotel Cambridge

ISE: DHG              LSE: DAL

Dublin, London, 15 November 2019 | Dalata Hotel Group plc ("Dalata" or "the Company"), the largest hotel operator in Ireland, with a growing presence in the United Kingdom, is pleased to announce that it has completed contracts to acquire the operating and leasehold interest in the 4-star Tamburlaine Hotel, located in Cambridge, United Kingdom. The hotel will be rebranded as Clayton Hotel Cambridge in the coming months.

Dalata will operate the hotel under a new FRI (full repairing and insuring) lease for a 30-year term with index linked five-year rent reviews. The landlord is The Ability Group who have acquired the property.

The Tamburlaine Hotel, newly built in 2017, has 155 bedrooms, a restaurant and bar as well as extensive conference and meeting facilities. The hotel is superbly located, adjacent to Cambridge Railway Station, at the very centre of the CB1 business district and within a walking distance of the city centre. A reconfiguration of the internal layout of the hotel will result in an additional 5 bedrooms.

Dermot Crowley, Deputy CEO - Business Development and Finance, said: 

"Cambridge has been a priority target city for our Clayton brand, and I am delighted that we have secured such a high-quality, modern hotel in the centre of the city. The acquisition of the leasehold interest of this hotel is another important step in our stated strategy of expanding our Maldron & Clayton brands in key cities across the UK. The property is an ideal fit for our Clayton brand, under which we now operate nine hotels across seven cities in the UK. We look forward to getting to work immediately, with the existing hotel management team, to bring Dalata hospitality to the visitors and residents of Cambridge."

-ENDS-

About Dalata

Dalata Hotel Group plc was founded in August 2007 and listed as a plc in March 2014. Dalata has a strategy of owning or leasing its hotels and also has a small number of management contracts. The Group's portfolio now consists of 30 owned hotels, 11 leased hotels and three management contracts with a total of 9,201 bedrooms. In addition to this, the Group is currently developing nine new hotels and has plans to extend two of its existing hotels, with a total of 2,399 bedrooms due to open over the next three years. This will bring the total number of bedrooms in Dalata to over 11,600. Dalata now has close to 5,000 employees. For the first six months of 2019, Dalata reported revenue of €201.9 million and a profit after tax of €32.7 million. Dalata is listed on the Main Market of Euronext Dublin (DHG) and the London Stock Exchange (DAL). For further information visit: www.dalatahotelgroup.com.

Contacts

Dalata Hotel Group plc	Tel [phone]
Pat McCann, CEO	[e-mail]
Dermot Crowley, Deputy CEO, Business Development & Finance
Sean McKeon, Company Secretary and Head of Risk and Compliance
Joint Company Brokers
Davy: Anthony Farrell	Tel [phone]
Berenberg: Ben Wright	Tel [phone]
Investor Relations and PR | FTI Consulting	Tel [phone]
Melanie Farrell	[e-mail]

 

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