Dalata Hotel Group PLC Announces Two New Hotels in Bristol & Birmingham (1969O)

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RNS Number : 1969O

Dalata Hotel Group PLC

16 May 2018

Dalata Hotel Group Announces Two New Hotels in Bristol and Birmingham, UK

Tenth Clayton Hotel and Sixth Maldron Hotel in UK

   ISE: DHG                              LSE: DAL 

Dublin, 16 May 2018 | Dalata Hotel Group plc ("Dalata" or "the Company") is pleased to announce that it has signed agreements to lease two new hotels to be built in the UK, which will deliver an estimated 580 new bedrooms to the Group's hotel portfolio. A new Clayton Hotel is planned for Bristol, to be developed by Artisan Real Estate Investors Limited, and a new Maldron Hotel is planned for Birmingham, to be developed by McAleer & Rushe. Dalata now has just over 1,700 rooms in its UK development pipeline on top of the 1,968 rooms that it already owns or leases.

Clayton Hotel, Bristol

The new Clayton hotel will be a conversion of the listed façade and the existing Natwest Court office building on Broad Street. It will be a 4 star property, ideally located in the centre of Bristol, close to Bristol's commercial centre and within walking distance of the main shopping and leisure districts. The hotel will have circa 250 air-conditioned bedrooms, a bar, restaurant and extensive conference facilities.

The construction of the hotel is subject to the receipt of planning permission from Bristol City Council, it is expected that the hotel will open in Q3 2020.

Maldron Hotel, Birmingham

The new Maldron hotel will be a 4 star property, centrally located on Suffolk Street in the heart of Birmingham city, adjacent to the Mailbox shopping centre complex and a short walk to the Bullring shopping centre and New Street train station. The hotel will have circa 330 air-conditioned bedrooms, a bar, restaurant and meeting room facilities.

The construction of the hotel is subject to the receipt of planning permission and consent from Birmingham City Council, it is expected that the hotel will open in Q1 2021.

Dalata will commence operations in both hotels through 35 year Operating Leases, subject to five year rent reviews linked to the Retail Price Index.

Dalata already operates seven Clayton hotels in the UK, in London (2), Cardiff, Leeds, Birmingham, Belfast and Manchester Airport. Two new Clayton hotels are also planned for the centre of Manchester and Glasgow as announced in September 2017 and November 2017 respectively. Dalata operates Maldron hotels in Derry, Belfast City Centre and Belfast Airport with a further Maldron hotel under construction in Newcastle and another one planned for Glasgow, as announced last December.

Dalata is the Republic of Ireland's leading hotel company where it operates 12 Clayton and 12 Maldron hotels.

Dermot Crowley, Deputy CEO - Business Development and Finance, said: " We are delighted to secure agreements to lease these two very exciting new hotels in the heart of Bristol and Birmingham. Both cities possess very strong hotel markets and these two projects demonstrate our ability to grow a very attractive development pipeline of hotels in the UK. In Dalata, we pride ourselves on developing long term partnerships. We are already developing hotels with Artisan and McAleer & Rushe and we now look forward to working with them again on these projects."

Clive Wilding, Property Director - Artisan Real Estate Group, said: "It is great to be doing our second hotel with Dalata and with such an interesting building situated in the heart of the historic Bristol city centre. The 4 star Clayton hotel with restaurant, bar, and well managed business space, forms the centre piece of a mixed use development. The Artisan group are really pleased to be delivering 550 rooms as part of Dalata's expansion plans across the UK ."

Stephen Surphlis, Property Director -McAleer & Rushe, said: "The new Maldron hotel is a significant project that will enhance Birmingham's continued development and add to the regeneration within the City. With a large economy and major projects in close proximity, including the new HMRC Regional Hub, HSBC's Headquarters and the pending HS2 high speed rail network linking to London we are confident that our investment in the City will make an important contribution to the economy and provide a modern hotel offering for business users as well as leisure visitors. Having delivered a range of projects for the Dalata Group across the UK and Ireland we are looking forward to partnering with them, once again, to deliver this exciting new hotel scheme."

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          (Sponsor)       T: [phone] 
   Development and              T: [phone]      Anthony         3069 
   Finance                      E:                       Farrell         E: 
   T: [phone]           melanie.farrell@fticon   T: +353         ben.wright@berenb 
   E:                           sulting.com              6149993         erg.com 
   dcrowley@dalatahotelgroup.                            E: 
   com                                                   anthony.farre 
                                                         [e-mail] 
 

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 2,600 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 Euronext Dublin (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 16, 2018 02:00 ET (06:00 GMT)