15th Nov 2019 16:57
(Alliance News) - Irish hotel operator Dalata Hotel Group PLC said Friday it has agreed to acquire the operating and leashold interest in the Tamburlaine Hotel in Cambridge for an undisclosed sum.
The hotel will be rebranded as Clayton Hotel Cambridge in the coming months, and Dalata will operate the hotel under a new full repairing and insuring lease for a 30-year term.
The landlord is UK property firm The Ability Group, who has acquired the property.
The Tumburlaine hotel currently has 155 bedrooms, with a restaurant and bar. A reconfiguration of the internal layout of the hotel will lead to the addition of five bedrooms.
"Cambridge has been a priority target city for our Clayton brand, and I am delighted that we have secured such a high-quality, modern hotel in the centre of the city. The acquisition of the leasehold interest of this hotel is another important step in our stated strategy of expanding our Maldron & Clayton brands in key cities across the UK," said Dermot Crowley, deputy chief executive officer for Business Development & Finance.
Shares in Dalata Hotel Group - which is headquartered in Dublin - were untraded on Friday, last quoted at 487.00 pence in London.
By Dayo Laniyan; [email protected]
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