Dalata Hotel Group, the country's biggest hotel group and the owner of the Clayton and Maldron hotel brands, has announced the purchase of the Radisson Hotel Dublin Airport in a deal worth €83m.
The Radisson Hotel Dublin Airport sits on 4.4 acres at Dublin Airport and is a four-star hotel with full four-star facilities. It consists of 229 bedrooms, meeting and event facilities, bar, restaurant, and on-site parking.
It also has two significant planning approvals, offering development opportunities into the future.
Dalata said that when the deal is complete, the hotel will be rebranded as a Clayton Hotel.
The remaining tenure of the leasehold is 107 years, and the transaction is scheduled to close in the first half of 2025, subject to Competition and Consumer Protection Commission approval.
The vendor is a related party of Emerald Investment and Windward Management is the hotel operating partner.
The total consideration will be financed from Dalata's existing cash and banking facilities, the company said.
"Dublin remains a strategic growth market for Dalata and this transaction, with the Maldron Hotel Dublin Airport operating licence due to expire in January 2026, represents a very attractive opportunity for the group to secure a well invested four-star hotel, in close proximity to Terminal 2 in Dublin Airport," Dalata said.
Dermot Crowley, CEO of Dalata Hotel Group, said today's acquisition is an exceptional opportunity in a vibrant hotel market.
"We will continue to balance disciplined growth, capital efficiency and financial strength with returns to shareholders," he added.
Shane Casserly, Deputy CEO of Dalata Hotel Group, said today's deal is a compelling opportunity to secure a strong revenue generating hotel, in an excellent location.
"This hotel is well positioned to provide hospitality services to Dublin Airport passengers and the greater north Dublin community, supporting both the local and national economies," he said.
"The hotel aligns with our investment criteria and offers us the very attractive opportunity to invest and further develop the hotel offering on the overall site, delivering greater investment returns into the future," he added.
Patrick Coyle, Chairman of Windward Asset Management, said the Radisson Blu Dublin Airport has been successfully managed by Windward Management for many years.
"We would like to acknowledge the ongoing commitment of management and staff in delivering top class performance and customer service. Their work has created a strong foundation that will undoubtedly benefit the property's future stakeholders," he said.
"The completion of this transaction is subject to regulatory approval which may take several months to secure. During this period the commitment of all involved is much appreciated as we work towards a seamless transition," he added.
Shares in the company moved higher in Dublin trade today.
