Dalata hotel group revenue rises to over €400 million
DALATA Hotel Group, which operates all Maldron and Clayton brands in Ireland, has revealed that its revenue rose 9.3 per cent to €429.2 million during the year that ended on December 31, 2019.
Meanwhile, the group’s earnings before interest, taxation, depreciation and amortisation (EBITDA) increased by nearly 13 per cent to €134.8 million and its basic earnings per share rose 7.5 per cent to 46 cent.
Maldron Hotel
Dalata chief executive Pat McCann said: “I am delighted that we generated over €100 million in free cashflow for the first time in the history of the group.
Our continued strong cash generation and our strong balance sheet allows us to fund acquisitions and development in a sustainable and disciplined manner. It also allows us to fund a progressive dividend policy.”
Dalata’s revenue per average room (RevPAR) decreased by 3.1 per cent in Dublin last year while its like-for-like RevPAR dropped 1 per cent in regional Ireland. In the UK, the group’s RevPAR outperformed in regional markets while London hotels outperformed local markets.
McCann continued: “We are mindful that Dalata is exposed to global headwinds that can impact the hospitality sector.
We expect approximately another 1,900 hotel rooms will open in Dublin during 2020 and the digestion of this new supply will have an impact on the market.
However, I remain encouraged by the strong forecasts for the Irish economy, further job creation by multinational companies and the continued demand for bedrooms.”
