Last checked at 10 May 2017 07:00
AGM Statement
ISE: DHG LSE: DAL
Dublin, 10 May 2017 | Dalata Hotel Group plc ("Dalata" or the "Group"), Ireland's largest hotel operator, is holding its AGM today at 11.30 am at The Clayton Hotel, Burlington Road, Dublin 4, Ireland.
At the AGM, John Hennessy, Chairman of Dalata, will make the following statement:
"Following another year of significant growth in the size of our portfolio and earnings in 2016, trading performance in the first four months of 2017 has been marginally ahead of expectations.
RevPAR growth in our Dublin and Regional Ireland properties has been in line with expectations. We have experienced strong RevPAR growth in our London and Northern Ireland portfolios. RevPAR growth in our provincial UK properties has been marginally ahead of expectations. Management is very satisfied with the trading performance of the Group's hotel portfolio in the first four months of the year. The outlook remains positive for the markets in which we operate.
Progress continues to be made on our development pipeline of over 1,200 new hotel rooms. Construction of the Clayton Hotel Charlemont, Maldron Hotel Kevin Street, Maldron Hotel Belfast and Maldron Hotel Newcastle is well underway and progressing on target and within budget. Construction of the 140-room extension at Clayton Dublin Airport will commence later this month. Construction is due to commence later this year on our new Maldron hotel in Cork as well as the extensions to our Maldron Hotel Parnell Square, Maldron Hotel Sandy Road and Clayton Hotel Ballsbridge. All projects are due to open at different stages of 2018.
Investment in the Clayton and Maldron brands continues with a targeted capital refurbishment programme and brand awareness campaigns. We also continue to invest in the training and development of our people as they are key to our continued growth and performance. 2017 will see further investment in information technology to deliver ongoing improvements in internal controls, the quality of management information and process efficiencies.
We continue to look for opportunities to purchase the freehold interest of some of our existing hotels in Ireland. We are also looking to expand our Clayton and Maldron brands in the UK and are encouraged by the current pipeline of potential opportunities."
ENDS
Contacts
Dalata Hotel Group PLC Dermot Crowley, Deputy CEO Business Development and Finance T: +353 1 206 9400 E: dcrowley@dalatahotelgroup.com
| Investor Relations & Public Relations FTI Consulting Melanie Farrell T: +353 86 401 5250 E: melanie.farrell@fticonsulting.com | Joint Company Brokers Davy Anthony Farrell T: +353 679 7788 E: anthony.farrell@davy.ie |
Berenberg Ben Wright T: +44 20 3753 3069 E: ben.wright@berenberg.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 operates 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 2016 Dalata reported revenue of €290.5 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