Dalata Hotel Group PLC / IE00BJMZDW83
19.11.2024 - 08:00:12Dalata Hotel Group announces sale of Clayton Whites Hotel Wexford for €21 million
| Dalata Hotel Group PLC (DAL,DHG) 19-Nov-2024 / 07:00 GMT/BST Hotel to be sold to Neville Hotels ISE: DHG LSE: DAL Dublin and London | 19 November 2024: Dalata Hotel Group plc (‘Dalata’ or the ‘Group’), the largest hotel operator in Ireland, with a growing presence in the United Kingdom and Continental Europe, announces that it has exchanged contracts for the sale of Clayton Whites Hotel Wexford to Neville Hotels for €21 million (the ‘Transaction’). Clayton Whites Hotel Wexford is a strongly performing hotel with an experienced management team in place. Under the terms of the Transaction, the Clayton Whites Hotel Wexford will transfer to Neville Hotels, with Dalata commencing a comprehensive process of employee engagement to ensure a seamless transition. As previously announced, substantially all of the net proceeds from this Transaction and the sale of Maldron Hotel Wexford, are being returned to shareholders through the current share buyback programme announced on 15th October 2024. Dalata remains committed to the Irish market and its portfolio where it is the leading hotel operator through its Clayton and Maldron brands. The Transaction is expected to be completed in January. Savills advised Dalata on the Transaction. Dermot Crowley, CEO of Dalata Hotel Group commented: “The Clayton Whites Hotel Wexford has been a significant part of Dalata’s journey, and I would like to take this opportunity to thank the team there for all their hard work and commitment. The hotel has a strong management team in place and a proven track record of strong performance, providing me with confidence that it will continue to excel as part of Neville Hotels. Our focus now is to ensure a smooth and positive transition, providing support to our colleagues throughout this period of change. As the leading hotel operator in Ireland – a strategic market for the business – we remain committed to delivering industry leading hospitality for our guests across all of our hotels.” ENDS About Dalata Dalata Hotel Group plc is a leading hotel operator backed by €1.7bn in hotel assets primarily in Ireland and the UK. Established in 2007, Dalata has become Ireland’s largest hotel operator with an ambitious growth strategy to expand its portfolio further in excellent locations in select, large cities in the UK and Continental Europe. The Group’s portfolio comprises a mix of owned and leased hotels with 56 primarily four-star hotels operating through its two main brands, Clayton and Maldron Hotels, with 12,150 rooms and a pipeline of over 870 rooms. For the six-month period ended 30 June 2024, Dalata reported revenue of €302 million, basic earnings per share of 16.0 cent and Free Cashflow per Share of 21.5 cent. Dalata is listed on the Main Market of Euronext Dublin (DHG) and the London Stock Exchange (DAL). For further information visit: www.dalatahotelgroup.com Contacts
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| ISIN: | IE00BJMZDW83, IE00BJMZDW83 |
| Category Code: | MSCM |
| TIDM: | DAL,DHG |
| LEI Code: | 635400L2CWET7ONOBJ04 |
| OAM Categories: | 3.1. Additional regulated information required to be disclosed under the laws of a Member State |
| Sequence No.: | 359819 |
| EQS News ID: | 2032647 |
| End of Announcement | EQS News Service |
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