27th Apr 2016 08:14
LONDON (Alliance News) - Dalata Hotel Group PLC said it has had a "very encouraging" start to 2016, ahead of its annual general meeting on Wednesday.
The Irish hotel operator, which owns the Clayton and Maldron hotel brands, said the markets in which it operates have maintained the strong growth momentum achieved in 2015 and are performing ahead of its expectations.
"Management is very satisfied with the trading performance of the group's hotel portfolio in the first four months of the year," Chairman John Hennessy said in a statement.
Dalata added that the integration of its recently-acquired hotels is progressing smoothly. Plans for investment in refurbishment and upgrade works at the Tara Towers hotel in Dublin are being advanced, while extension and upgrade works at the Clayton hotel in Chiswick, west London, are close to completion, and the maintenance capital expenditure programme is proceeding as planned.
"The pipeline for new opportunities remains strong and we will continue our disciplined approach to increase our portfolio of Maldron and Clayton hotels," Hennessy said.
Shares in Dalata were trading up 0.3% at 340.00 pence on Wednesday morning.
By Karolina Kaminska; [email protected] @KarolinaAllNews
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