Dalata Hotel Group PLC Dalata Acquires Hotel La Tour (Birmingham) Ltd (7853L)
July 21 2017 - 8:56AM
UK Regulatory
TIDMDAL
RNS Number : 7853L
Dalata Hotel Group PLC
21 July 2017
Dalata Acquires Entire Share Capital of Hotel La Tour
(Birmingham) Limited for GBP31.0m
ISE: DHG LSE: DAL
Dublin, 21 July 2017 | Dalata Hotel Group plc ("Dalata" or "the
Company") is pleased to announce that it has acquired the entire
issued share capital of Hotel La Tour (Birmingham) Limited ("HLTB")
for GBP31.0m (EUR34.9 million) from Hotel La Tour Limited. HLTB
owns the long leasehold (effective freehold) interest of Hotel La
Tour ("the Hotel") which is situated on Park Street in the centre
of Birmingham. The consideration is payable from Dalata's existing
banking facilities.
Hotel La Tour was newly built in 2012 and has 174 bedrooms, a
restaurant, bar as well as extensive conference and meeting
facilities. The hotel is superbly located within walking distance
of Birmingham New Street Station in the centre of the city. The
hotel will be rebranded as a Clayton hotel in the final quarter of
this year. EBITDAR attributable to the hotel was circa GBP1.9m
(EUR2.14 million) for the year ended 31(st) March, 2017.
Dermot Crowley, Deputy CEO Business Development and Finance,
said: "Hotel La Tour in Birmingham represents an outstanding
opportunity to operate a newly built hotel in the centre of one of
the largest cities in the UK. The acquisition is consistent with
our stated strategy of rolling out both our Maldron and Clayton
hotel brands across the larger UK cities. "
ENDS
Contacts
Dalata Hotel Investor Relations Joint Company
Group PLC & Public Relations Brokers Berenberg
Dermot Crowley, FTI Consulting Davy Ben Wright
Deputy CEO Business Melanie Farrell Anthony Farrell T: +44 20 3753 3069
Development and T: +353 86 401 T: +353 679 E:
Finance 5250 7788 ben.wright@berenberg.com
T: +353 1 206 E: E:
9400 melanie.farrell@fticonsult anthony.farrell@davy.ie
E: ing.com
dcrowley@dalatahotelgroup.
com
About Dalata
Dalata Hotel Group plc is Ireland's largest hotel operator, with
a current portfolio of 37 three and four star hotels with over
7,500 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. 24 of
the hotels are owned by Dalata, 9 hotels are operated under lease
agreements and 4 are operated under management agreements.
For the full year 2016 Dalata reported revenue of EUR290.5
million. Dalata is listed on the Main Market of the Irish Stock
Exchange (DHG) and the London Stock Exchange (DAL).
For further information visit: www.dalatahotelgroup.com
This information is provided by RNS
The company news service from the London Stock Exchange
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