Hotel group Dalata said it continued to trade strongly in the second quarter of the year, with earnings expected to be more than €100 million for the first six months of 2023.
The hotel operator, which has a growing presence in the UK and continental Europe, said the strong adjusted earnings before interest, tax, depreciation and amortisation reflected first-half trading performance across both its existing hotels and the continued impact of new hotels.
Revenue per available room is expected to be 29 per cent ahead of the same period in 2019, a slight acceleration in growth from the 28 per cent recorded between January and April. Compared with 2022 levels, like-for-like revenue at the group was 11 per cent higher overall in the second quarter, with the UK and regional Ireland hotels recording 15 per cent growth, and Dublin up 10 per cent.
Dalata said margin performance continued to improve, with hotel teams managing inflation through dynamic pricing, cost management and sustainability initiatives to cut energy use.
Dermot Crowley, chief executive of Dalata, said he was happy with the company’s performance to date. “I am very pleased with the performance of the hotels we recently added to the portfolio, it gives me great confidence that the current pipeline of new hotels will also create significant value for our shareholders,” he said.
“We continue to deliver on our growth strategy with the exciting addition of two new hotels in London since the start of the year. The excellence of our people, the ongoing strength of demand across our markets and the quality of our portfolio gives me great confidence for the remainder of the year.”
The group is also continuing to grow in the UK, with two new London hotel acquisitions, the Maldron Hotel Finsbury Park and Clayton Hotel London Wall, that are set to open in the coming weeks. Maldron hotels are also planned for Shoreditch in London, Brighton, Liverpool and Manchester for 2024.
