Dalata Hotel GP — M&A Activity 2014

Oct 15, 2014

National Storage Mechanism | Additional information

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RNS Number : 3214U

Dalata Hotel Group PLC

14 October 2014

Dalata Hotel Group plc

("Dalata" or the "Company" or the "Group")

Acquisition of

Clayton Hotel, Galway and Whites Hotel, Wexford

Dalata Hotel Group plc is pleased to announce that it has agreed to acquire two hotels; the Clayton Hotel, Galway and Whites Hotel, Wexford (the "Hotels"), for a total consideration of €31.7 million. The consideration is payable in cash. 

2013 EBITDAR (earnings before interest, tax, depreciation, amortisation, rent and management fees) for the Hotels was €2.5m.

Both hotels, marketed by CBRE Hotels as part of the Ulster Bank Project Nadal, have been operated by Dalata since 2009 under management contract. It is expected that these transactions will complete within one month.

Clayton Hotel, Galway

The Clayton Hotel, Ballybrit, County Galway is a 4 star hotel.  Located close to the famous Ballybrit Racecourse and Galway Clinic, minutes from Galway city centre, the hotel contains 195 rooms as well as a bar/bistro, a restaurant, and conference facilities including a ballroom and 10 meeting rooms.

Whites Hotel, Wexford

Whites Hotel, Abbey Street, Wexford is a 4 star hotel.  This hotel is located in Wexford town and contains 157 rooms as well as a bar/café, a restaurant, a spa & leisure facility and conference facilities including a ballroom and 10 meeting rooms.

Pat McCann, Chief Executive Officer of Dalata, said:

"We are delighted to have secured Whites Hotel, Wexford and the Clayton Hotel, Galway, two outstanding modern hotel properties with excellent conference facilities. We look forward to continuing our work with the management and staff at both properties to realise the full potential of both hotels in the years ahead.

These acquisitions are part of our strategy to assemble a portfolio of high quality hotel assets in Ireland"

Enquiries:

Dalata Hotel Group plc

Dermot Crowley, Deputy CEO Business Development and Finance

Tel: +353 (0)1 206 9400

Davy

Anthony Farrell

Tel: +353 (0)1 679 7788

PR

Padraig McKeon 

Tel: +353 (0)87 231 2632

www.dalatahotelgroup.com

This information is provided by RNS

The company news service from the London Stock Exchange

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