11th Nov 2024 11:32
(Alliance News) - Dalata Hotel Group PLC on Monday revealed plans to develop its sixth hotel in London.
Dublin-based Dalata, which operates a portfolio of hotels across Ireland, the UK and Germany, said it has exchanged an agreement for lease for a new 4-star Clayton hotel to be developed on the Tower 42 estate in the City of London.
The new Clayton Hotel will have 154 bedrooms and is set to open in the second half of 2028. The hotel will operate under a 25-year lease with rent reviews every five years, tied to the consumer price index.
Deputy Chief Executive Officer Shane Casserly said: "We are excited to expand our footprint in London, with this transaction illustrating the flexibility of our business model as we deliver further growth through leasing, as well as acquisition and development. As part of our 'vision 2030', London continues to be a key target city for Dalata, and we believe significant opportunity exists for both our Clayton and Maldron brands."
Datala shares were down 5.1% at 352.00 pence in London on Monday morning.
By Eva Castanedo, Alliance News reporter
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