Dalata Hotel Group PLC Planning Application for Tara Towers Site (2813L)
18 July 2017 - 4:00PM
UK Regulatory
TIDMDAL
RNS Number : 2813L
Dalata Hotel Group PLC
18 July 2017
Dalata Submit Planning Application for Tara Towers Site
ISE: DHG LSE: DAL
Dublin, 18 July 2017 | Dalata Hotel Group plc ("Dalata" or "the
Company") announces it has submitted a planning application for the
redevelopment of the Tara Towers Hotel site in Dublin 4. The hotel,
acquired by the Company in January 2016, is located on a 1.46 acre
site adjacent to the recently developed Elmpark Urban Campus.
The planning application incorporates the demolition of the
existing structure and the construction of a mixed used development
to include:
-- a 4 star Maldron hotel with 140 rooms, a restaurant, bar and meeting facilities;
-- 70 residential units; and,
-- a basement car park.
Dalata will seek a development partner in due course to fund and
build the residential component of the scheme.
The Tara Towers Hotel will remain open and fully operational
while the planning application is in process.
Dermot Crowley, Deputy CEO Business Development and Finance,
said: "We considered a number of options for the Tara Towers Hotel
and earlier this year we decided to proceed with a planning
application for a mixed used development on the site. The hotel has
performed very well since we acquired it in January and we are very
excited about the trading potential for a brand new 4 star Maldron
hotel in this location. If the planning application is successful,
we will review our options on the development of the site".
A further announcement will be made as appropriate.
ENDS
Contacts
Dalata Hotel Investor Relations Joint Company
Group PLC & Public Relations Brokers Berenberg
Dermot Crowley, FTI Consulting Davy Ben Wright
Deputy CEO Business Melanie Farrell Anthony Farrell T: +44 20 3753 3069
Development and T: +353 86 401 T: +353 679 E:
Finance 5250 7788 ben.wright@berenberg.com
T: +353 1 206 E: E:
9400 melanie.farrell@fticonsult anthony.farrell@davy.ie
E: ing.com
dcrowley@dalatahotelgroup.
com
About Dalata
Dalata Hotel Group plc is Ireland's largest hotel operator, with
a current portfolio of 37 three and four star hotels with over
7,500 rooms. Dalata successfully operate Ireland's two largest
hotel brands, the Clayton and the Maldron Hotels across Ireland and
the UK, as well as managing a portfolio of partner hotels. 24 of
the hotels are owned by Dalata, 9 hotels are operated under lease
agreements and 4 are operated under management agreements.
For the full year 2016 Dalata reported revenue of EUR290.5
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
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