Dalata Hotel Group PLC on Friday said it bought a new hotel in London, becoming the company’s fifth hotel in the city.
The Dublin-based hotel chain said it bought the long leasehold interest of the Apex Hotel London Wall for £53.4 million from Apex Hotels Ltd. Apex owns the long leasehold interest with 107 years remaining on the lease.
The property is a hotel with full four-star facilities with 89 bedrooms and is located near Liverpool Street station. Dalata expects earnings before interest, tax, depreciation, amortisation, and restructuring or rent costs of around £4.5 million in 2024 from the hotel.
Dalata Corporate Development Director Shane Casserly said: ‘To have acquired such an attractive existing London hotel, in the current market, that will allow us to further expand the Clayton brand, is a fantastic achievement for the business. London remains a key development market for us and we remain focused on securing future opportunities for the portfolio.’
Dalata Hotel shares were flat at 370.00 pence each in London on Friday morning.
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