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Dalata Hotel Enters Lease For New Four-Star Dublin Hotel

LONDON (Alliance News) - Dalata Hotel Group PLC on Monday said it entered into a lease agreement ...

Alliance News 21 January, 2019 | 11:50AM
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LONDON (Alliance News) - Dalata Hotel Group PLC on Monday said it entered into a lease agreement for a new four-star hotel in the Dublin docklands.

The new hotel will form part of the Spencer Place project which is being developed by a joint venture of Ronan Group Real Estate and Colony Capital Inc, Dalata said.

The hotel, which is set to open in the fourth quarter of 2020, will have 200 bedrooms. Dalata will have a 35-year operating lease, subject to five-year rent reviews.

Deputy Chief Executive Officer Dermot Crowley said: "We are delighted to have entered into arrangements to lease a new hotel in the heart of Dublin's thriving North Docks. The hotel will be superbly located to benefit from the very significant investment taking place in the docks area."

He added: "Today's announcement brings the number of hotels in our development pipeline to 9 with over 2,300 rooms in Dublin and the UK. We remain confident of announcing further new deals in 2019."

Dalata shares were trading up 1.6% at 479.20 pence each.

By Elena Cherubini; elenacherubini@alliancenews.com

Copyright 2019 Alliance News Limited. All Rights Reserved.

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Securities Mentioned in Article

Security Name Price Change (%) Morningstar
Dalata Hotel Group PLC 473.75 GBX 0.00 -
Dalata Hotel Group PLC 5.55 EUR 0.18 -

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