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Hotel operator Dalata Hotel Group has announced it is targeting an increase in its footprint from circa 12,000 to 21,000 rooms, either in operation or in development, by 2030 as part of its so-called 2030 Vision.
The company said it also aims to become the largest hotel operator in the four-star segment of all major cities in Ireland and regional UK cities by 2030, and it wants to establish a growing presence in London and continental Europe.
“We remain focused on both the acquisition of existing hotels and development of new hotels through a balanced mix of leasehold and freehold ownership, using our combined expertise as both a hotel operator and developer underpinned by strong financial discipline,” the company said in a statement.
The company is also to invest up to €25M in a new share buyback scheme after concluding a €30M buyback programme.
Dalata said it anticipates revenue per available room will grow 2% year-on-year for September and October, with regional Ireland performing better at 4%, while Dublin and the UK portfolio should rise 1%.
Looking to the rest of the year, the company said it remains positive in its outlook, predicting a strong return of corporate business after the summer period and good leisure demand around events. Dalata anticipates particularly strong demand in November in Dublin on the back of a busy event calendar.
Established in 2007, Dalata has an estimated €1.7B in hotel assets, primarily in Ireland and the UK, and it is Ireland’s largest hotel operator. The group’s portfolio comprises a mix of owned and leased hotels with 57 primarily four-star hotels operating through its two main brands, Clayton Hotels and Maldron Hotels.
For the six-month period ending 30 June, Dalata reported revenues of €302M. In total, it has 12,258 rooms and a pipeline of more than 700 rooms.
Bisnow is running its latest UK Hotel Outlook event on 22 October at Park Hyatt London River Thames.
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