Dalata Hotel Group PLC AGM Statement (9554M)

TIDMDAL

RNS Number : 9554M

Dalata Hotel Group PLC

03 May 2018

AGM Statement

   ISE: DHG              LSE: DAL 

Dublin, 3 May 2018 | Dalata Hotel Group plc ("Dalata" or the "Group"), Ireland's largest hotel operator, is holding its AGM today at 11.30 am at The Clayton Hotel, Dublin Airport, Stockhole Lane, Swords, Co. Dublin.

At the AGM, John Hennessy, Chairman of Dalata, will make the following statement:

"Following another very successful year in 2017, trading performance in the first four months of 2018 has been a little ahead of our expectations.

RevPAR growth in our Dublin properties has been marginally ahead of our expectations. RevPAR growth in our Regional Ireland properties is in line with our expectations. STR have reported weaker market conditions in the UK for the first quarter of 2018 but we are delighted to report that we continue to outperform the market in terms of RevPAR growth and the performance of our UK properties is in line with our expectations. Management is very satisfied with the trading performance of the Group's hotel portfolio in the first four months of the year. The outlook for the first six months of the year is positive.

We are delighted that Maldron Hotel Belfast City opened ahead of schedule on March 13(th) . Although, it is very early days, the hotel is trading well and most importantly, customer feedback has been very positive. The additional 106 rooms at Clayton Hotel Dublin Airport will open in the first week of June while Maldron Hotel Kevin Street Dublin will open in the first week of July. Construction of Clayton Hotel Charlemont Dublin (Nov 2018), Maldron Hotel South Mall Cork (Dec 2018) and Maldron Hotel Newcastle (Feb 2019) all remain on track to open on time and within budget. The extensions currently underway at Maldron Hotel Sandy Road Galway (June 2018), Clayton Hotel Ballsbridge Dublin (Aug 2018) and Maldron Hotel Parnell Square Dublin (Dec 2018) all remain on schedule and within budget. We have engaged Savills on our Tara Towers Hotel site and expect to finalise our approach to the redevelopment of this site in the coming months.

We remain very encouraged by the quality and number of potential new developments that we are currently reviewing.

We completed a large proportion of our annual capital refurbishment programme in the first quarter of this year and this has been well received by our customers. Our investment in technology continues apace. The rollout of our new procurement systems is being extended to additional suppliers this month, we completed the installation of the Opera property management system across our portfolio in March while we continue to invest in our website customer journey.

It continues to be a very exciting time for the Group and Management remains focused on delivering excellent returns for our shareholders."

ENDS

Contacts

 
 Dalata Hotel Group            Investor Relations            Joint Company 
 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                       E:                             7788                          [e-mail] 
 T: [phone]            melanie.farrell@fticonsulti    E: [e-mail] 
 E:                            ng.com 
 dcrowley@dalatahotelgroup.c 
 om 
 

About Dalata

Dalata Hotel Group plc is Ireland's largest hotel operator with a growing presence in the United Kingdom. The Group's current portfolio consists of 39 hotels with over 7,900 rooms and an additional 1,997 rooms are currently being developed. 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. 27 of the hotels are owned by Dalata, nine hotels are operated under lease agreements and three are operated under management agreements. `

For the full year 2017, Dalata reported revenue of EUR348.5 million and a profit after tax of EUR68.3 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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May 03, 2018 02:00 ET (06:00 GMT)