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Dalata Hotel Encouraged By 2019 Trading, Confident About Year Ahead

LONDON (Alliance News) - Dalata Hotel Group PLC said Thursday it has carried business momentum ...

Alliance News 2 May, 2019 | 2:43PM
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LONDON (Alliance News) - Dalata Hotel Group PLC said Thursday it has carried business momentum from 2018 into 2019.

The company said its trading in the first four months of 2019 was in line with its expectations and ahead of the first four months of 2018.

Speaking at the Irish hotel operator's annual general meeting Thursday, Chair John Hennessy said: "This momentum has continued into 2019 as we maximise on-going returns from our existing portfolio. The six new hotels that opened on time and on budget during 2018 and early 2019 are progressing well."

Hennessy said the revenue per available room in the Dublin market in the first quarter of 2019 has "been on a par" with the last year.

"We are delighted to report that on a 'like for like' basis, revenue per available room in our Dublin hotels was up 2.4%. Revenue per available room growth in our Regional Ireland hotels is positive and ahead of the market as a whole. On a 'like for like' basis, revenue per available room at our UK hotels was up 3.0%1 in the first quarter of 2019 and in all but one city, our hotels outperformed the market in revenue per available room growth. Dalata's trading in the second quarter remains encouraging and the outlook for the first six months of the year is positive," added Hennessy.

Dalata said it has a pipeline of 2,200 rooms scheduled to open between late 2020 and the second quarter of 2021. The company said it is "encouraged" about its opportunities and is looking at extending its existing properties.

Hennessy concluded: "We continue to monitor the possible outcome from Brexit and our position remains that there will be both challenges and opportunities for Dalata. We are confident that 2019 will be another exciting year for the group. Our strong team of people will continue to drive the business forward and ensure we are focused on delivering excellent returns for our shareholders."

The company is expected to release its half-year results, for the period ending June 30, on November 5.

Shares in Dalata Hotel were up 4.3% Thursday at 520.00 pence each.

By Paul McGowan; paulmcgowan@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 5.57 EUR 0.54 -

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