Dalata plans Tower 42 hotel
Dalata Hotel Group has exchanged contracts for a new four-star Clayton hotel to be developed on the Tower 42 Estate in the City of London.
Due to open in the second half of 2028, subject to planning approval, the 154-bedroom Clayton hotel will be developed at 20 Old Broad Street, EC2.
The all-electric building will include state-of-the-art heat pump technology and target a BREEAM Excellent accreditation.
Dalata Hotel Group has exchanged contracts for a new four-star Clayton hotel to be developed on the Tower 42 Estate in the City of London.
Due to open in the second half of 2028, subject to planning approval, the 154-bedroom Clayton hotel will be developed at 20 Old Broad Street, EC2.
The all-electric building will include state-of-the-art heat pump technology and target a BREEAM Excellent accreditation.
On completion of construction, Dalata will commence operations in the hotel through a 25-year lease, which will be subject to five-year, CPI-linked rent reviews.
Dalata said the deal demonstrated its ability to increase its footprint in a global business and tourism hub with strong market fundamentals.
The Irish hotel group has opened four new locations in the UK this year, including the Maldron Hotel Shoreditch, which opened in August. This new hotel will bring Dalata’s operating presence in London to 1,030 bedrooms across six hotels.
Deputy chief executive Shane Casserly said: “We are excited to expand our footprint in London, with this transaction illustrating the flexibility of our business model as we deliver further growth through leasing, as well as acquisition and development. We are particularly pleased to have commenced a partnership with the Tower 42 Estate, which offers an unrivalled mix of uses in a best-in-class location.
“As part of our Vision 2030, London continues to be a key target city for Dalata, and we believe significant opportunity exists for both our Clayton and Maldron brands. Our proven track record of delivery across both London and the UK, demonstrates our ability to identify and deliver in-demand hotels at excellent locations. Our experience, scale and deep industry expertise positions us strongly to deliver on our ambitious growth plans.”
