Dalata Hotel Group has agreed a deal with the receiver of the Clayton Hotel Cardiff Lane in Dublin 2 and the Clarion Hotel Liffey Valley for some parts of the hotels for €62.5m. 

It is expected that the deal for certain freehold interests of the hotels will be finalised in June 2017.  

Clayton Hotel Cardiff Lane is a 4 star 304-bedroom hotel located in the South Docks area of Dublin. 

Dalata has agreed to purchase the freehold of the ground and lower ground floors - which contain the reception area, bar, restaurant, leisure centre and back of house facilities - 170 bedrooms and vacant ground floor area.  

It holds a lease on these elements until 2040, at an annual rent of €2.524m a year, subject to upward only rent reviews at five year intervals.  

Today's deal will bring the total number of bedrooms owned by Dalata in this hotel to 193, out of a total of 304 bedrooms.

Dermot Crowley, deputy CEO at the group, said that it has been seeking to purchase as much of the freehold of Clayton Hotel Cardiff Lane as possible since the company was floated in March 2014.

"I am delighted that we will now own the majority of the hotel and that as a result of this transaction, we will be able to add much needed conference facilities to the hotel in an area of the property that is currently in a shell and core condition," he stated. 

"This transaction is also consistent with our stated strategy of buying out the freehold interests of those leased properties with future unpredictable rent reviews," he added.
 
Meanwhile, the Clarion Hotel Liffey Valley is a 4 star 353-bedroom hotel located to the west of Dublin adjacent to the M50 motorway and Liffey Valley shopping centre. 

Dalata has agreed to buy the freehold of the core hotel, which incorporates 159 bedrooms, the leisure centre, meeting rooms, reception, bar & restaurant, car-park and two vacant retail units. 

The company currently manages this hotel under a short-term management agreement for receiver Kieran Wallace, which generated €500,000 in fee income in 2016. 

The remaining 194 rooms are owned by individual investors and are not included in this sale.
 
The deal is still subject to approval of the Competition and Consumer Protection Commission.

In a separate announcement, Dalata said it had agreed a deal with receivers Declan McDonald and Ken Tyrrell of PwC to purchase the freehold interest of the Maldron Hotel Portlaoise and adjoining Midway Foodcourt. 

Dalata have also agreed a simultaneous sub-sale of the foodcourt to a third party. 

The net cost of the deal is €6.8m and it expected that the acquisition will complete this month. 
 
The Maldron Hotel Portlaoise is 3-star hotel located adjacent to the M7 motorway at Junction 17, Portlaoise. 

The hotel contains 90 bedrooms, a bar, restaurant, leisure centre and meeting room facilities. 

Dalata holds a long leasehold on the hotel until 2036.