Dalata Hotel Group Expands Footprint with New London Hotel
New Lease Agreement Enhances Presence in the Capital
Dalata Hotel Group has london-news.net/2024/09/09/news/top-diplomat-blinken-to-head-to-london-for-crucial-talks-on-ukraine-and-the-middle-east/” title=”Top Diplomat Blinken to Head to London for Crucial talks on Ukraine and the Middle East”>officially announced the leasing of a new hotel in London, elevating its portfolio in the city to six distinct properties. As the foremost hotel operator in Ireland, Dalata is also strengthening its footprint across the United Kingdom and Europe. The latest development involves a lease agreement for a modern four-star Clayton hotel situated on Tower 42 estate.
Strategic Location and Development Details
The upcoming hotel, set to be located at 20 Old Broad Street, EC2—an area recognized for its bustling business environment—is expected to welcome guests by the second half of 2028, pending necessary planning permissions. This all-electric establishment will include 154 well-appointed guestrooms along with amenities such as a restaurant, bar, and gym equipped with advanced heat pump technology.
Upon completion of construction activities, Dalata plans to manage operations via a 25-year operational lease that incorporates five-year rent reviews indexed against the Consumer Price Index.
Recent Additions Strengthen UK Operations
This year alone saw Dalata inaugurate four new locations within the UK market—including Maldron Hotel Shoreditch which commenced operations in August—bringing their total number of rooms in London to an impressive 1,030 spread across six hotels.
Shane Casserly, Deputy CEO of Dalata Hotel Group remarked that this agreement “showcases our adaptable business model as we facilitate further expansion through leases alongside acquisitions and development efforts.” He expressed satisfaction about forming a partnership with Tower 42 estate known for offering an exceptional blend of amenities within a prime location.
Vision Forward: Growth Opportunities in London
With ‘Vision 2030’ underway, Dalata firmly identifies London as one of its key target cities where ample opportunities await both its Clayton and Maldron brands. Casserly emphasized that their established track record highlights their capacity to pinpoint and deliver popular hotels at outstanding locations. This experience combined with significant scale and industry insights positions them effectively to achieve ambitious growth objectives.
Financial Outlook
For reference on performance metrics, Dalata reported revenue reaching €302 million during the first half of fiscal year ending June 30th, 2024; they also noted basic earnings per share standing at €0.16. Listing on both Euronext Dublin’s main market as well as the London Stock Exchange illustrates their robust financial presence.
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