The board of Dalata Hotel Group – the Irish owner of the popular Clayton and Maldron hotel chains – has accepted a €1.4bn takeover offer, which will see the business change into Scandinavian ownership.
The Scandinavian hospitality and property consortium comprising the Pandox and Eiendomsspar companies have had their offer accepted, having previously been rebuffed with a €1.3bn proposal last month.
Dalata effectively put itself up for sale in March, when it launched a strategic review of its entire business.
Dalata’s operations span Ireland, the UK, the Netherlands, Spain and Germany, with further continental European and UK expansion on the cards.
Dalata CEO Dermot Crowley said the deal will give Pandox a larger share of the UK and Ireland market and Dalata better access to expansion funding. The new owners are understood to be planning to retain Dalata’s staff and management and include the existing Dalata group within its wider group structure.
