The Dalata Hotel Group – which owns the Clayton and Maldron hotel chains – has reported an 18% increase in annual revenues, to €607.7m, for 2023.
The group – the largest hotelier in Ireland, which is also active in the UK, Germany and the Netherlands – generated a pre-tax profit of €105.5m last year; which was 4% down on the previous 12 months.
The profit dip was down to the reversal of previous period revaluation losses post-Covid in 2022.
RevPAR (Revenue Per Available Room) – a key growth metric for the hotel industry – grew by 12%, last year, to just shy of €115m.
In terms of geographic expansion, the UK remains Dalata’s core focus, with it announcing a 216-bedroom extension plan to its Clayton Hotel Manchester Airport property and the intention to exceed 5,000, in terms of bedroom numbers in the UK, by the end of 2024. New openings, in the UK, will include properties in London, Liverpool, Manchester and Brighton.
Dalata said it is focused on growing in 11 key cities in the UK, but also on “establishing a presence in targeted large European cities, with a strong mix of corporate and leisure demand”.
The group said it has “considerable firepower potential”, from ongoing cash flows, to invest in further opportunities over the medium term.
Dalata Hotel Group Chief Executive, Dermot Crowley, said: “When I look forward at the strength of the calendar of events for the balance of the year – especially from May onwards – the strong flight schedule at Dublin Airport and the increase in corporate demand experienced in the year to date, I am optimistic as we look to the balance of the year.
In terms of outlook, Dalata said – despite ongoing macroeconomic uncertainty – it remains “optimistic” for its trading outlook in 2024, and remains confident in its ability to continue to manage inflationary pressures.
