Dalata Hotel Group PLC - Dublin-based hotel chain - Says it ‘continues to deliver an exceptional performance through strong trading and sustained growth’ in the second half of 2023. Expects hotel revenue for the year to exceed €600 million, up from €516 million in 2022, with adjusted earnings before interest, tax, depreciation and amortisation rising to €220 million from €183 million. Says it is pleased with performance so far at all three hotels added to the portfolio during 2023, and ‘looks forward to the completion’ of four more hotels next year with development works ‘progressing well’ and the sites on track to open in mid-2024. Dalata is ‘optimistic in its outlook for 2024’, with expected further recovery in corporate travel among the probable tailwinds.

Chief Executive Officer Dermot Crowley says: ‘Our growth ambitions, coupled with strong demand across our markets and our financial capacity to secure attractive opportunities underscores our ongoing ability to deliver value to our shareholders.’

Current stock price: 377.75 pence, up 5.2% in London on Wednesday

12-month change: up 37%

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