Dalata Hotel Group reports revenue rise by 18 per cent

DALATA Hotel Group, which operates the Maldron and Clayton hotel brands, has reported lower pre-tax profits and higher revenues for the year to the end of December.

The country’s biggest hotel group, Dalata’s pre-tax profit dipped by 4 per cent to €105.5m due to the reversal of previous period revaluation losses post covid in 2022.

However, revenues rose by 18 per cent to €607.7m for 2023, while its adjusted EBITDA jumped by 22 per cent to €223.1m.

Dalata said the average price charged for a night’s stay was six per cent higher at €143.36, up from €135.80 in 2022, while its hotel occupancy levels also rose to 80 per cent from 75.8 per cent in 2022.

Meanwhile, Group Revenue per available room (RevPAR) rose by 12 per cent to €114.67 from

€102.23 in 2022.

The Dalata board has proposed a final dividend of eight cents per share, which it said represented a dividend payment of about €18m.

The hotel group invested €112.3m in two strategic London assets – Maldron Hotel Finsbury Park (191 rooms) and Clayton Hotel London Wall (89 rooms) – which began trading under Dalata ownership during the year.

It also saw a second hotel in Continental Europe with the €29.5m leasehold acquisition of rebranded Clayton Hotel Amsterdam American (173 rooms) and invested €14.4m in Edinburgh with planning lodged for an office conversion to a 167-bedroom hotel.

The company said its UK rooms are set to exceed 5,000 by the end of this year with the opening of centrally located hotels in London, Liverpool, Brighton and Manchester.

It is focussed on growing in 11 key cities in the UK and establishing a presence in targeted large European cities with a strong mix of corporate and leisure demand.

Dermot Crowley, the hotel group’s chief executive, said that after exceeding revenue of €500m in 2022, the group grew revenues further to over €600m in 2023.