AGM Statement

RNS Number : 4216W

Dalata Hotel Group PLC

27 April 2016

 

AGM Statement

DHG

Dublin, 27 April 2016 | Dalata Hotel Group plc ("Dalata" or the "Group"), Ireland's largest hotel operator, is holding its AGM today at 11.30 a.m. at The Gibson Hotel, Point Village, Dublin 1, Ireland.

At the AGM, John Hennessy, Chairman of Dalata, will make the following statement:

"Following a transformative year of growth and development in 2015 the Group has enjoyed a very encouraging start to 2016.

On an overall basis, the markets in which we operate have maintained their strong growth momentum from 2015 and are performing ahead of our expectations. Management is very satisfied with the trading performance of the Group's hotel portfolio in the first four months of the year.

Management has continued to execute the investment strategy and integrate recently acquired hotels into group operations. We 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

Since the year end the Group has completed the acquisitions of the Tara Towers Hotel, the Clarion Hotel Sligo and the Choice Hotels Ireland business made up of leasehold interests at the Clarion Hotels in Cork and Limerick, the Gibson Hotel in Dublin and the Croydon Park Hotel in London as well as a short-term management contract at the Clarion Liffey Valley Hotel in Dublin. The Group has also taken the first steps in the promised development of new hotels with the acquisition of a site with planning permission for a 181 bedroom four star hotel at Charlemont Street in Dublin and the recent announcement that it has signed a contract for the development of a 206 bedroom hotel at Brunswick Street in Belfast.

The integration of the acquired hotels is progressing smoothly and plans for investment in refurbishment and upgrade works at the Tara Towers are being advanced. The extension and upgrade works at Clayton Hotel Chiswick, London are close to completion and the maintenance capital expenditure programme is proceeding as planned.

The pipeline for new opportunities remains strong and we will continue our disciplined approach to increase our portfolio of Maldron and Clayton hotels."

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]

Company 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 42 three and four star hotels with over 7,700 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. 20 of the hotels are owned by Dalata, 13 hotels are operated under lease agreements and 9 are operated under management agreements.

For the full year 2015 Dalata reported revenue of €225.7 million and managed 48.5% of hotel rooms in Dublin. The Company is listed on the Irish Stock Exchange (ESM: DHG) and London Stock Exchange (AIM: DAL).

For further information visit: dalatahotelgroup.com

 

END

 

 

AGMUNRNRNVASUAR