(Alliance News) - Dalata Hotel Group PLC on Friday said it bought a new hotel in London, becoming the company's fifth hotel in the city.
The Dublin-based hotel chain said it bought the long leasehold interest of the Apex Hotel London Wall for GBP53.4 million from Apex Hotels Ltd. Apex owns the long leasehold interest with 107 years remaining on the lease.
The property is a hotel with full four-star facilities with 89 bedrooms and is located near Liverpool Street station. Dalata expects earnings before interest, tax, depreciation, amortisation, and restructuring or rent costs of around GBP4.5 million in 2024 from the hotel.
Dalata Corporate Development Director Shane Casserly said: "To have acquired such an attractive existing London hotel, in the current market, that will allow us to further expand the Clayton brand, is a fantastic achievement for the business. London remains a key development market for us and we remain focused on securing future opportunities for the portfolio."
Dalata Hotel shares were flat at 370.00 pence each in London on Friday morning.
By Tom Budszus, Alliance News reporter
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Dalata Hotel Gp (DAL)