UK expansion in sight for Irish hotelier Dalata Group as profits soar

By Laura Mullan
Dalata Group has reported a huge 75% jump in pre-tax profits to €77.3 million (£68.3mn). Ireland’s biggest hotel group posted full-year results wh...

Dalata Group has reported a huge 75% jump in pre-tax profits to €77.3 million (£68.3mn).

Ireland’s biggest hotel group posted full-year results which showed that turnover rose 20% from €290.6m (£256.6m) to €348.5m (£307.7m) and room occupancy also grew marginally from 82.1% to 82.3% across the group’s portfolio.

Thanks to the company’s success, Dalata Group is preparing to reward shareholders this year with their first dividends this year, with the first shareholder payout set to be announced September at its half-year results.

SEE ALSO:

The Irish hotelier, which owns the Maldron and Clayton brands, currently has a  portfolio consists of 38 hotels with over 7,600 rooms, with an additional 2,234 rooms currently being developed.

This year it intends to open around 1,000 new rooms across its portfolio.

Dalata Group said that it would focus its growth in twenty target cities across the UK.

In the long-term, it is also exploring expansion opportunities in Europe, with sites in Germany and the Benelux countries (Belgium, the Netherlands and Luxembourg) cited as attractive locations. 

CEO Pat McCann said he was proud of the progress made by the company in 2017 and that he was impressed with the company’s performance in the UK market.

"The team at Dalata have delivered another year of strong earnings growth and met our target to announce 1,200 new rooms per year," he said

"2015, 2016 and 2017 were busy years at Dalata and 2018 will be no different. I am really excited about the pipeline of hotels that we are opening in 2018."

He added: "Our development team are actively looking for new sites located in our twenty target cities across the United Kingdom. I am very excited about the quantity and quality of opportunities that are coming our way at present.” 

Share

Featured Articles

New Biotechnology Serves Benefits to the Food Industry

Major companies Danone, Michelin and DMC, collaborate to create a biotechnology platform to better the food industry through upgraded fermentation use.

Nestlé Announces New CEO Alongside Future Investment Plans

Nestlé appoints Guillaume Le Cunff as new CEO of Zone Europe, along with future plans surrounding sustainability, mergers and acquisitions and innovation.

Danone Launches new Global Training Programme

Danone partners with leading technology firms: Google, Microsoft and Alibaba Cloud to utilise AI and technology in upskilling 100,000 employees worldwide.

Mondelēz Cements Snacks Industry Position With Biscuit Lab

Food

Sainsbury's Targets Sustainable Cocoa by 2025

Sustainability

Coca-Cola Bottling Company Embracing ESG Challenges

Drink