Dalata Hotel Group, the operator of the Maldron and Clayton Hotels, said today it expects hotel revenue to exceed €600m for 2023, which would mark a new record for the company.
In a trading update for the second half of 2023, Dalata said its adjusted EBITDA for the year is expected to be in excess of €220m, up from €183m the previous year.
For the second half of 2023, the company said its group revenue per available room (RevPAR) is also expected to be 3% ahead of 2022 levels.
Dalata said it has successfully started trading at the three hotels added to its portfolio during 2023 - the Maldron Hotel Finsbury Park, Clayton Hotel London Wall and Clayton Hotel Amsterdam American.
It added that it is pleased with the performance delivered at the three hotels so far.
It also said it is looking forward to the completion of four new hotels during 2024, which will add 834 new rooms to its portfolio.
These hotels include its first hotel in both Brighton and Liverpool, its fourth hotel in Manchester and its fifth hotel in London.
Development works are progressing well and the hotels are on track to open in the middle of next year, it added.
"The group is optimistic in its outlook for 2024 with strong lead indicators across our customer segments, including the return of more direct flight connections and the anticipated further recovery in corporate travel," the company added.
Dermot Crowley, CEO of Dalata Hotel Group, said the company is on course to deliver another "exceptional result" this year driven by strong operational performance across its existing hotels and the impact of new additions to the portfolio.
"In our recent first-half results, we set out our firepower potential of €750m to grow in the medium term beyond our currently announced pipeline," the CEO said.
"Since then, we have secured our second hotel in continental Europe with the addition of the newly rebranded Clayton Hotel Amsterdam American and the acquisition of our first site in Edinburgh where we will develop a four-star Clayton Hotel," he said.
"Our growth ambitions, coupled with strong demand across our markets and our financial capacity to secure attractive opportunities underscores our ongoing ability to deliver value to our shareholders," he added.
Shares in the company moved higher in Dublin trade today.
