Dalata Hotel Group PLC Year-end Trading Update (4749S)
21 December 2016 - 8:48PM
UK Regulatory
TIDMDAL
RNS Number : 4749S
Dalata Hotel Group PLC
21 December 2016
Dalata Hotel Group plc
("Dalata" or the "Company" or the "Group")
YEAR-END TRADING UPDATE
Dublin, 21 December 2016 |Trading in the final four months of
the year has been marginally ahead of our expectations. Recent STR
results to the end of November 2016 show that RevPAR in our largest
region, the Dublin market, increased by 16.6% for the 11 months to
the end of November versus 2015. As we had anticipated, the growth
in the Dublin market was lower in the second half of the year but
is still very healthy. RevPAR in our own Dublin hotels was up 20.8%
for the same 11 month period. To date, we have seen no impact of
Brexit on any of our hotels in Ireland or the UK.
The final four months of the year have seen progress on a number
of fronts. The Clayton hotel brand has increased in size in Ireland
from 1,588 rooms to 2,904 rooms with the rebranding to Clayton of
the three former Clarion hotels and the former Doubletree by Hilton
hotel in November and December 2016. There are now 17 Clayton
hotels in Ireland and the UK with 4,369 rooms. Clayton is Ireland's
largest hotel brand.
The Clayton Hotel Burlington Road has been smoothly transitioned
into the Group and we expect trade in 2017 to be in line with the
expectations we held when we acquired the operating interest last
month.
We continue to make strong progress on our development pipeline
on the island of Ireland, which will add over 950 rooms to our
owned and leased portfolio:
-- Construction is well underway on the Maldron Hotel in Belfast
and is due for completion in the second quarter of 2018.
-- Construction is also underway on the Clayton Hotel Charlemont
with completion due in the middle of 2018.
-- Construction will commence in January 2017 on the Maldron
Hotel Kevin Street with the hotel due to open in the second quarter
of 2018.
-- Full planning permission has been received for the 140 room
extension at the Clayton Hotel Dublin Airport. Construction is due
to commence in the second quarter of next year with completion in
the third quarter of 2018.
-- We are currently completing a planning application for the
new Maldron Hotel South Mall in Cork, which we expect to open in
the third quarter of 2018.
-- We are in various stages of the planning process for the
extensions at Maldron Hotel Sandy Road, Maldron Hotel Parnell
Square and the Clayton Hotel Ballsbridge. Each project is making
good progress with the additional rooms due to be completed in the
timeframes previously indicated.
In November, we announced the first hotel as part of our planned
roll-out of new hotels in the UK. Construction is underway at the
new 226 room Maldron Hotel Newcastle, which is due to open in the
summer of 2018. We continue to actively look for further
opportunities to open new hotels in the UK under the capital light
leasing model. By Q3 2018, there will be over 4,700 Clayton rooms
and over 2,700 Maldron rooms across Ireland and the UK.
EBITDA for the year ending 31 December 2016 will be at the upper
end of analysts' expectations.
-ENDS-
Contacts
Dalata Hotel Group Investor Relations Sponsor and Broker
plc & Public Relations Davy
Dermot Crowley, FTI Consulting Anthony Farrell
Deputy CEO Business Jonathan Neilan/Patrick T: +353 679 6363
Development and Berkery E: anthony.farrell@davy.ie
Finance T: +353 86 2314135
T: +353 1 206 / +353 86 6025988
9400 E: dalata@fticonsulting.com
E: dcrowley@dalatahotelgroup.com
About Dalata
Dalata Hotel Group plc is Ireland's largest hotel operator, with
a current portfolio of 41 hotels with over 8,000 rooms. Dalata
successfully operate Ireland's two largest hotel brands, Clayton
Hotels and Maldron Hotels across Ireland and the UK, as well as
managing a portfolio of partner properties. 24 of the hotels are
owned by Dalata, 10 hotels are operated under lease agreements and
7 are operated under management agreements.
For the full year 2015 Dalata reported revenue of EUR225.7
million. Dalata is listed on the Main Market of the Irish Stock
Exchange (DHG) and the London Stock Exchange (DAL).
For further information visit: www.dalatahotelgroup.com
This information is provided by RNS
The company news service from the London Stock Exchange
END
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