28th Apr 2015 10:25
LONDON (Alliance News) - Irish hotels company Dalata Hotel Group PLC Tuesday said it beat its expectations in the first quarter amid good trading in its key markets.
Dalata said it has now completed the acquisition of Moray Bewley's portfolio of nine hotels in the UK and Ireland, announced in February, which has given it a presence in London, Manchester and Leeds, though 55% of its portfolio remains in Dublin.
"The markets in which we operate were strong in the first quarter of 2015 and the outlook for those markets remains positive. We are very satisfied with progress on integrating our acquired hotels into the group," said Dalata Chairman John Hennessy, in a statement he is due to give at the company's annual general meeting on Tuesday.
Hennessy added trading in the first quarter was ahead of Dalata's expectations.
Shares in Dalata were trading flat at EUR3.60 on Tuesday.
By Sam Unsted; [email protected]; @SamUAtAlliance
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