Dalata Hotel Group PLC Acquisition (4345N)

TIDMDAL

RNS Number : 4345N

Dalata Hotel Group PLC

26 October 2016

Dalata Acquires Freehold Interest of

the Clayton Hotel Cardiff, Wales

   ISE: DHG                              LSE: DAL 

Dublin, 26 October 2016 | Dalata Hotel Group plc ("Dalata" or "the Company") is pleased to announce that it has acquired Rush (Central) Limited ("Rush") which holds the freehold interest of the Clayton Hotel Cardiff for GBP24 million (c. EUR27 million).

The Clayton Hotel Cardiff is a 4 star hotel, excellently located on St. Mary Street, in Cardiff city centre, a short walk from Cardiff Central train station and the Principality (formerly Millennium) Stadium. The hotel contains 216 air-conditioned bedrooms, a bar and restaurant, a fitness suite and extensive meeting room facilities. The Company currently holds a leasehold on the property until 2046, at an annual rent of GBP1.511m per annum subject to upward only rent reviews at five year intervals.

Rush also owns a restaurant located on the ground floor of the building, which is leased to Viva Brazil Cardiff Ltd, on a 20 year lease, expiring in 2032.

Dermot Crowley, Deputy CEO Business Development and Finance, said: "Clayton Hotel Cardiff has performed very strongly this year. We are delighted to be able to purchase the freehold interest of the hotel. This transaction is consistent with our stated strategy of buying out the freehold interests of those leased properties with future unpredictable rent reviews."

ENDS

Contacts

 
 Dalata Hotel Group                  Investor Relations             Sponsor and Broker 
  plc                                 & Public Relations             Davy 
  Dermot Crowley,                     FTI Consulting                 Anthony Farrell 
  Deputy CEO Business                 Jonathan Neilan/Patrick        T: [phone] 
  Development and                     Berkery                        E: [e-mail] 
  Finance                             T: [phone] 
  T: +353 1 206                       / [phone] 
  9400                                E: [e-mail] 
  E: [e-mail] 
 

About Dalata

Dalata Hotel Group plc is Ireland's largest hotel operator, with a current portfolio of 40 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 7 are operated under management agreements.

For the full year 2015 Dalata reported revenue of EUR225.7 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

http://dalatahotelgroup.com/about-us/management-team/

This information is provided by RNS

The company news service from the London Stock Exchange

END

ACQEASESADLKFFF

(END) Dow Jones Newswires

October 26, 2016 02:00 ET (06:00 GMT)