Last checked at 22 Nov 2017 16:58
Dalata Announces Lease Extension on Ballsbridge Hotel
12 month lease extension up to March 2019
ISE: DHG LSE: DAL
Dublin, 23 November 2017 | Dalata Hotel Group plc ("Dalata" or "the Company") and Chartered Land announce the extension of Dalata's existing lease agreement on the Ballsbridge Hotel to at least 31 October 2018, with the option, at Chartered Land's discretion, to extend further up to 31 March 2019.
The extension of the Ballsbridge Hotel lease is consistent with Chartered Land's plans for the development of the overall site. It allows for the hotel to continue to trade whilst bridging the gap between the existing lease expiry and the commencement of the development of this element of the site. Work continues apace on the neighbouring Lansdowne Place site where 217 luxury apartments are under construction.
Dermot Crowley, Dalata Deputy CEO, commented: "We are pleased to extend our lease with Chartered Land on the Ballsbridge Hotel for the busy 2018 season. The Ballsbridge Hotel is a landmark hotel providing close to 400 bedrooms and conference facilities in the competitive Dublin City Centre market.
Our lease extension also ensures that room capacity remains available until the launch of over 320 rooms we are developing at our new hotels in Charlemont and Kevin Street together with a further 225 rooms in extensions to our Maldron Hotel on Parnell Street and our Clayton Hotels in Ballsbridge and at Dublin Airport."
Ballsbridge Hotel, Dublin
The Ballsbridge Hotel is a four star hotel located on Pembroke Road and adjacent to Lansdowne Road, Dublin 4. The hotel contains 392 rooms, a bar, restaurant, conference rooms and a function room. Dalata has operated the hotel under lease since January 2012.
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 38 hotels with over 7,500 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 small portfolio of partner properties. 26 of the hotels are owned by Dalata, nine hotels are operated under lease agreements and three are operated under management agreements.
For the half year 2017, Dalata reported revenue of €161.8 million (full year 2016: €290.6 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
About Chartered Land
Founded in 1999 and led by Chairman Joe O'Reilly and Chief Executive Andrew Gunne, Chartered Land has established itself as one of the largest and most pioneering property development and investment companies in Ireland.
Through joint ventures with long-term institutional capital partners, Chartered Land has forged a distinguished portfolio that include Dundrum Town Centre; the Bord Gáis Energy Theatre and Grand Canal Square office scheme in Dublin's Docklands; Swords Pavilions; and a mixed-use retail led development on South King Street, Dublin 2.
Lansdowne Place is one of the next chapters in Chartered Land's vision. The aim is to create a truly original development that will represent for residential what Dundrum Town Centre did for retail.
For further information visit: http://charteredland.ie/