Last checked at 27 Apr 2023 07:00
Dalata Hotel Group PLC (DAL,DHG) Dalata Hotel Group PLC: AGM Statement 27-Apr-2023 / 07:00 GMT/BST 2023 AGM Statement A very successful year for the business Continued strong growth in 2023 ISE: DHG LSE: DAL
Dublin and London | 27 April 2023: Dalata Hotel Group Plc (“Dalata” or “the Group” or “the Company”), the largest hotel operator in Ireland, with a growing presence in the United Kingdom and continental Europe, is holding its AGM today at 11:30 am BST at Gibson Hotel, Point Square, North Dock, Dublin. Shareholders are welcome to attend the meeting in person or participate in the AGM electronically using the link below. At the AGM, John Hennessy, Chair of Dalata, will make the following statement: “A year ago, I wrote of the challenges of 2021 and of the tentative feeling of optimism that we were experiencing then, as the worst effects of Covid-19 began to recede. At that time of global geopolitical and economic uncertainty, the future was unclear, but we believed that the return of activity in our key markets would allow us to plot a gradual course back to the levels of success we had enjoyed before the pandemic.
As it transpired, our performance in 2022 exceeded even the most optimistic of expectations. The priorities that we adopted during the pandemic – to protect our people, our culture, our business, and our cash – has paid dividends. We reached several milestones during the year, including opening our fiftieth hotel and surpassing €500 million in hotel revenue. Our focus on our people and our customers is reflected in very positive feedback obtained through regular surveys. An increased emphasis on innovation is helping us mitigate the challenges of inflation and meet changing customer needs.
In 2023, Dalata has continued to trade strongly. We disclosed in February that Group 'like for like' RevPAR1 was 25% ahead of 2019 levels for the January/February period; I am delighted to report that RevPAR is expected to be 28% ahead of 2019 for the January to April period. Q1 2022 performance continued to be impacted by Covid-19 related restrictions, however, the lifting of restrictions by Q2 2022 will allow for year-on-year comparisons to resume going forward. As we look ahead, we are optimistic for the summer months buoyed by the rebound in international travel, conferences and sustained domestic tourism.
Our recent hotel additions continue to perform well, and we remain focussed on our growth strategy. We look forward to the opening of Maldron Hotel Finsbury Park, London in the summer of this year. Development works on our pipeline hotels are progressing, with the construction of our second Maldron Hotel in London, Maldron Hotel Shoreditch, on track for completion in Q1 2024. This will further enhance our portfolio of sustainable, modern four-star hotels as we continue to deliver on our strategic growth plan. Construction of our new Maldron leased hotels in Brighton, Liverpool and Manchester continues, with all scheduled to be completed in Q2 2024. Maldron Hotel Croke Park, Dublin is scheduled for completion in H1 2026.
Dalata has emerged from two difficult years and has resumed the growth and success that have characterised the business since its inception. We will continue this growth in our target markets in the coming years. We are committed to upholding our responsibilities to the environment, to the communities in which we operate, to our customers, employees, shareholders and to all other stakeholders. Although there are many challenges ahead, we see a very bright future for our business”.
AGM details Shareholders can access the AGM, ask questions and vote at the AGM via a virtual meeting platform. This can be done by accessing the meeting website: meetnow.global/DHGIAGM2023 on the date appointed for the AGM. The results of the resolutions relating to the AGM will be published later today. Further information relating to the AGM is published on the Company’s website: https://dalatahotelgroup.com/investors/shareholder-centre#agm -ENDS- About Dalata Dalata Hotel Group plc was founded in August 2007 and listed as a plc in March 2014. Dalata is Ireland’s largest hotel operator, with a growing presence in the UK and continental Europe. The Group’s portfolio comprises 50 three and four-star hotels with 10,953 rooms and a pipeline of over 1,300 rooms. The Group currently has 29 owned hotels, 18 leased hotels and three management contracts. Dalata successfully operates Ireland’s two largest hotel brands, the Clayton and the Maldron Hotels. For the year ended 31 December 2022, Dalata reported revenue of €558.3 million and a profit after tax of €96.7 million. Dalata is listed on the Main Market of Euronext Dublin (DHG) and the London Stock Exchange (DAL). For further information visit: www.dalatahotelgroup.com
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1 RevPAR is stated on a ‘like for like’ basis and excludes the performance of hotels that newly opened or ceased trading under Dalata during the comparative years. For newly acquired, previously operating hotels, where pre-acquisition RevPAR data is available, these hotels are included on a ‘like for like’ basis.
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| ISIN: | IE00BJMZDW83, IE00BJMZDW83 |
| Category Code: | AGM |
| TIDM: | DAL,DHG |
| LEI Code: | 635400L2CWET7ONOBJ04 |
| OAM Categories: | 3.1. Additional regulated information required to be disclosed under the laws of a Member State |
| Sequence No.: | 239836 |
| EQS News ID: | 1618343 |
| End of Announcement | EQS News Service |
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