Dalata Hotel Group revenue is slated to have exceeded €0.5bn for 2022. This is an all-time high for the company and follows a period of challenges presented by the COVID-19 pandemic. Dalata is our Company of the Month January 2023, in association with KPMG.
The company is expected to have reached adjusted earnings before interest, tax, depreciation and amortisation (EBITDA) of €182 million for 2022. This figure is up from €63 million in 2021.
Dalata, which is Ireland’s largest hotel group, reported a 21% rise in their revenue per available room from 2019 for the period September to November 2022.
Corporate bookings have picked up in recent months parallel to an increase in trade which was positively impacted the company. They have also reported an increase in North American visitors.
There are still challenges for the firm to overcome including the restricted supply in Ireland. This is partly due to rooms being used for the provision of emergency accommodation for refugees.
Dalata, which operates the Maldron and Clayton hotels, continues to expand and has a number of hotels under constrcution. The Maldron hotel in Shoreditch, London is on track to open in December 2023.
Maldron hotels are also under construction in Liverpool, Brighton and Manchester which are scheduled for completion in 2024. A Maldron Hotel Croke Park in Dublin is also slated to be added to the group in 2025.
The group added seven hotels between August 2021 and September 2022. The new additions have performed well and reported occupancy levels of 79% for the September to November 2022 period.
Dalata benefitted from a return to travel and its ongoing expansion in the UK. It has also been backed by Swiss bank UBS.
UBS initated coverage of the Irish company in early January with a buy recommendation and a €5.50 price target. Share prices at the company stand at €3.96, as of February 1st, 2023 and have been rising steadily since November.
Business & Finance, Company of the Month
Business & Finance, in association with KPMG, recognises excellence in business through the ‘Company of the Month’ award. The Company of the Month award recognises the company which best demonstrates outstanding business leadership, sustainable growth, innovative strategy, strong financial returns and employee development.
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