Irish hotel group Dalata has acquired the lease of a London hotel currently under development, located at Aldgate.
Dalata is paying €100m for the property, which will have 212 rooms.
The transaction is conditional on the completion of the hotel to an agreed specification. The construction of the hotel, which will be branded Clayton Hotel Aldgate London, is expected to be completed and operational towards the end of this year.
The transaction will be funded by an additional debt facility which has been secured from the Company's existing banking partners.
Dermot Crowley, Deputy CEO, said the group is delighted to secure the new hotel in Aldgate, Londn. "We already successfully operate two Clayton hotels in the Greater London area at Chiswick and Cricklewood. This new hotel gives us a presence in a key central location within the city and is ideally located for corporate customers who want to be close to the City of London and leisure guests visiting the many attractions that the city has to offer.
"Access to the Aldgate area will be further enhanced with the opening of two new Crossrail stations at Liverpool Street and Whitechapel in December 2018," he said.
