Dalata’s performance tops pre-pandemic levels
Dalata is trading above 2019 levels as the Irish hotel group makes a rapid recovery from Covid.
In a trading update for its second quarter, Dalata said RevPAR was 9% ahead of 2019 levels for the March/April period, and was expected to be 18% ahead for May/June.
The firm said it expected adjusted EBITDA to be in excess of €81m (£70m) for the six months to the end of June. “This reflects a strong first-half trading performance despite operations being curtailed by Covid restrictions during the first two months of the year,” it said.
Dalata is trading above 2019 levels as the Irish hotel group makes a rapid recovery from Covid.
In a trading update for its second quarter, Dalata said RevPAR was 9% ahead of 2019 levels for the March/April period, and was expected to be 18% ahead for May/June.
The firm said it expected adjusted EBITDA to be in excess of €81m (£70m) for the six months to the end of June. “This reflects a strong first-half trading performance despite operations being curtailed by Covid restrictions during the first two months of the year,” it said.
However, it noted that cost inflation, and the “on-going volatility and uncertainty in the wider macro environment” may impact future performance.
Chief executive Dermot Crowley said: “Our teams in our hotels and central office have responded incredibly well to the swift recovery. Our new hotels in Manchester, Bristol, Dusseldorf and Dublin are also trading very well and we look forward with confidence to the opening of the Clayton Hotel Glasgow City and Maldron Hotel Merrion Road in Dublin in the coming months, adding much-needed additional supply to the market.”
Dalata has now completed the sale of the Clayton Crown Hotel in Cricklewood, NW2, to a company controlled by AG Hotels Group for a cash consideration of approximately £21m. It also expects to conclude the sale of the Merrion Road residential units in Dublin to Irish Residential Properties REIT for €42m in the coming weeks.
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Image from Dalata
