Dalata Hotel Group PLC 33 Suites in Clarion Hotel Liffey Valley (9587Q)

TIDMDAL

RNS Number : 9587Q

Dalata Hotel Group PLC

18 September 2017

Dalata Enters into Agreement for 33 Suites in the

Clarion Hotel Liffey Valley, Dublin 22

   ISE: DHG                              LSE: DAL 

Dublin, 18(th) September 2017 | Dalata Hotel Group plc ("Dalata" or "the Company") is pleased to announce that it has entered into an agreement with Martin Ferris as Receiver to acquire the long leasehold interest of 33 suites in the Clarion Hotel Liffey Valley, Dublin 22, for a consideration of EUR8.58 million ("the Transaction"). It is expected that the Transaction will complete in September 2017.

As announced on 4(th) September 2017, Dalata completed the acquisition of the core Clarion Hotel Liffey Valley (incorporating 158 bedrooms, the leisure centre, meeting rooms, reception, bar & restaurant, car-park and 2 vacant retail units). This Transaction announced today, the equivalent of 99 rooms, will result in Dalata owning and operating 257 bedrooms in the property which it intends to re-brand as a Clayton Hotel in the final quarter of 2017.

The consideration is payable in cash.

Dermot Crowley, Deputy CEO Business Development and Finance, said: "We are delighted to acquire these additional bedrooms so quickly after the purchase of the core hotel and are very excited about the potential of the hotel under the Clayton brand."

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: [phone] 
 Development and              T: [phone]                T: +353 679                  E: 
 Finance                      5250                          7788                         [e-mail] 
 T: +353 1 206                E:                            E: 
 9400                         melanie.farrell@fticonsult    [e-mail] 
 E:                           ing.com 
 dcrowley@dalatahotelgroup. 
 com 
 

About Dalata

Dalata Hotel Group plc is Ireland's largest hotel operator, with a current portfolio of 38 hotels with over 7,500 rooms. Dalata successfully operates Ireland's two largest hotel brands, Clayton Hotels and Maldron Hotels across Ireland and the UK, as well as managing a small portfolio of partner properties. 26 of the hotels are owned by Dalata, nine hotels are operated under lease agreements and three are operated under management agreements.

For the half year 2017, Dalata reported revenue of EUR161.8 million (full year 2016: EUR290.6 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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September 18, 2017 02:00 ET (06:00 GMT)