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Dalata Hotel Sees No Brexit Impact As Revenue Increases In 11 Months

LONDON (Alliance News) - Dalata Hotel Group PLC on Tuesday said trading in the final four months ...

Alliance News 18 December, 2018 | 12:22PM
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LONDON (Alliance News) - Dalata Hotel Group PLC on Tuesday said trading in the final four months of the year has been as expected, and earnings before interest, tax, depreciation and amortisation for 2018 will be in line with market expectations.

The hotel operator said the Dublin market remained very strong in the second half of the year. On a like-for-like basis, revenue per available room, or RevPAR, at Dalata's Dublin hotels grew by 8.8% for the 11 months to the end of November versus the market growth of 7.4%.

The company said like-for-like growth excludes hotels opened in 2018, the Tara Towers hotel, which closed in September, and hotels to which significant extensions were added.

Dalata's regional Ireland portfolio also performed very well, it said, achieving a RevPAR increase of 5.3% for the 11 months to the end of November.

RevPAR at the company's UK hotels grew by 3.2%.

In the final quarter of 2018, Dalata said it opened three new hotels and is progressing on the development of its pipeline of over 2,100 rooms across the UK and Ireland. Dalata currently has 20 owned hotels, 10 leased, and 3 hotel management contracts.

"2018 was earmarked as a year in which we would complete a substantial number of rooms, and I am delighted that we have delivered these projects on time and within budget," said Deputy Chief Executive Dermot Crowley.

"We note the ongoing uncertainty surrounding the final outcome of Brexit. To-date, we have seen no negative impact on trading in any of our hotels in the UK or Ireland," added Crowley.

Dalata shares were trading 2.8% higher on Tuesday at 424.00 pence each.

By Evelina Grecenko; evelinagrecenko@alliancenews.com

Copyright 2018 Alliance News Limited. All Rights Reserved.

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Securities Mentioned in Article

Security Name Price Change (%) Morningstar
Rating
Dalata Hotel Group PLC 474.00 GBX 2.71 -
Dalata Hotel Group PLC 5.57 EUR -0.36 -

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Alliance News

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