6th Jun 2016 07:00
Dalata Announce Purchase of Freehold Interest of the Clarion Limerick Hotel
DHG
Dalata Hotel Group plc (“Dalata” or “the Company”) is pleased to announce that it has exchanged contracts on the purchase of the freehold interest of the Clarion Limerick Hotel for €8.5 million.
The Clarion Limerick Hotel is a 4 star hotel located at Steamboat Quay, Limerick city centre. The hotel contains 158 air conditioned bedrooms, a bar and restaurant, a leisure centre and extensive conference room facilities. In March 2016 the Company acquired the leasehold interest of the hotel which is to be rebranded as a Clayton hotel before the end of 2016 with further investment planned.
The transaction is expected to complete in June.
Dermot Crowley, Deputy CEO Business Development and Finance, said: “We are very happy with the performance of the Clarion Limerick Hotel since we acquired its leasehold interest in March. The Limerick hotel market continues to recover strongly. The purchase of the freehold interest is consistent with our stated strategy of buying the freehold of our leased hotels that have unfavourable open market rent review clauses. We look forward to rebranding the hotel as Clayton Limerick Hotel later this year.”
ENDs
Contacts
| Dalata Hotel Group PLC Dermot Crowley, Deputy CEO BusinessDevelopment and Finance T: +353 1 206 9400 | Investor Relations & Public Relations FTI Consulting Melanie Farrell T: +353 86 401 5250 | Nomad and Broker Davy Anthony Farrell T: +353 679 7788 | ||||
About Dalata
Dalata Hotel Group plc is Ireland’s largest hotel operator, with a current portfolio of 42 three and four star hotels with over 7,700 rooms. Dalata successfully operate Ireland’s two largest hotel brands, the Clayton and the Maldron Hotels across Ireland and the UK, as well as managing a portfolio of partner hotels. 20 of the hotels are owned by Dalata, 13 hotels are operated under lease agreements and 9 are operated under management agreements.
For the full year 2015 Dalata reported revenue of €225.7 million. The Group is listed on the Irish Stock Exchange (ESM: DHG) and London Stock Exchange (AIM: DAL).
For further information visit: dalatahotelgroup.com
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