10th Mar 2016 08:43
LONDON (Alliance News) - Dalata Hotel Group PLC said Thursday it has received approval from the Irish Competition & Consumer Protection Commission to acquire the leasehold interests of three hotels in Ireland and one in London.
Dalata said in January it was awaiting approval for the purchase of the Gibson Hotel Dublin, the Croydon Park Hotel, the Clarion Hotel Cork and the Clarion Hotel Limerick, all of which will be rebranded as Clayton Hotels. In total, the cost of the hotels was EUR40.0 million.
Under the transaction, the company will also take over the management of the Clarion Liffey Valley Hotel under a short-term management contract.
Dalata said on Thursday the acquisition is expected to close shortly.
Shares in Dalata were untraded on Thursday, having last traded at 345.11 pence.
By Hannah Boland; [email protected]; @Hannaheboland
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