Hotel group Dalata is hot on the acquisition trail with the announcement of four new hotels to be added to the Dalata stable.
Dalata has just acquired the leasehold interest of the Gibson Hotel in Dublin’s Docklands, the Clarion Hotels in Cork and Limerick and the Croydon Park Hotel in South London.
All hotels are currently operated as part of the US-owned Choice Group of hotels. The chain announced earlier this week that it was to bring its boutique, luxury Ascend Hotel Collection to the UK with two hotels in Edinburgh being the first in the group.
As part of this newest deal, Dalata will take over the management of the Clarion Liffey Valley Hotel, under a short-term management contract.
The enterprise value of the deal, the combined cash cost and the value of debts taken on board by Dalata, is €40m, just over £30m.
The Group says it also plans to invest €14m (£10m) over the next two years in refurbishing hotels in Cork, Limerick and London and rebranding them under the Clayton moniker.
The deal will transfer close to an additional 1,000 bedrooms to the Group in the Greater Dublin Area, where revenues per available room are rising strongly and, through the Gibson, give it a foothold in Dublin’s Docklands where it also plans to build a new hotel.