Dalata Hotel Group, which owns the Clayton Hotel and Maldron Hotel brands, said today it was targeting an increase in its footprint from 12,000 to 21,000 bedrooms, either open or in development by 2030.
Shares in the hotel group jumped in Dublin trade today.
As it holds its investor day in London today, Dalata also said it was aiming to become the largest hotel operator in the four-star segment of all major cities in Ireland and Regional UK by 2030 with a growing presence in London and Continental Europe.
In a statement, the hotel group said it remains focused on both the acquisition of existing hotels and development of new hotels through a balanced mix of leasehold and freehold ownership.
Dalata also said its like for like revenue per available room (RevPAR) was 1% ahead of the equivalent 2023 levels for July and August.
It said that positive momentum has continued through the year and the group expects to achieve RevPAR growth of 2% on 2023 levels for September and October.
For the two-month period, RevPAR for the Dublin portfolio is expected to be 1% ahead of 2023 levels while the Regional Ireland portfolio is expected to be 4% above.
Its UK portfolio is expected to be 1% ahead of 2023 on the back of the inclusion of the two London hotels added to the portfolio last summer, both of which are showing strong growth versus last year.
"Corporate revenue for the two-month period also remains robust and in line with 2023," the hotel group said.
Dalata is in the advanced stages of selling two hotels located in Regional Ireland, which it considers non-core to the group.
Taking the expected proceeds from the sale of these hotels into consideration, it announced a new share buy-back programme of €25m, which will start in the coming days - subject to market conditions.
"The group remains positive in its outlook for the remainder of the year as we continue to see a strong return of corporate business after the summer period and good leisure demand around events. In particular, we expect good demand in November in Dublin on the back of a strong events calendar," it added.
Dermot Crowley, CEO of Dalata Hotel Group, said its recent UK growth has been compelling with 11 hotels added in target cities since 2021, almost doubling its UK footprint.
"Continental Europe represents an exciting pathway to expand the Group's footprint. I am excited about Dalata's long-term outlook and this is underscored by our ambition of having 21,000 bedrooms either open, or in development, by 2030," he added.
