29th Jun 2022 21:11
Dalata Hotel Group PLC - Irish hotel operator - Says trading in the last four months continues to be ahead of its expectations, with revenue per available room expected 18% ahead of pre-Covid 2019 levels for May/June period. This is improvement on April's RevPAR which was 9% ahead of 2019 levels. Expects adjusted earnings before interest, tax, depreciation and amortisation greater than EUR81 million for the first half of 2022. Notes cost inflation, but will continue proactive management of the business to protect margins. Also completes sale of Clayton Crown Hotel in London for GBP21 million, and expects sale of Merrion Road residential units for EUR42 million in the coming weeks.
"Our new hotels in Manchester, Bristol, Dusseldorf and Dublin are also trading very well and we look forward with confidence to the opening of the Clayton Hotel Glasgow City and Maldron Hotel Merrion Road in Dublin in the coming months, adding much needed additional supply to the market...We look forward to the balance of the year with confidence whilst being aware of the potential threats caused by the general economic outlook," says Chief Executive Officer Dermot Crowley.
Current stock price: 321.25 pence
12-month change: down 6.4%
By Elizabeth Winter; [email protected]
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