Dalata Hotel Group PLC - Dublin-based hotel chain - Issues trading statement on Thursday. Says 2024 has commenced with a good performance for its UK portfolio. Also continues to see healthy levels of corporate demand across all regions. Notes lower levels of trade in Ireland. Explains the timing and nature of events compared to 2023, in addition to the increased value added tax rate from September 2023 has had an impact during the first four months. Says revenue per available room for the group is expected to be 4% behind 2023 for the period of January to April on a ‘like for like‘ basis. Remains optimistic in outlook for the remainder of the year where trade typically is driven by stronger seasonal factors, supported by a strong events calendar, flight schedules and forward bookings for May and June. Also looks forward to the greater contribution from the ten hotels added to the portfolio since 2022 as they mature and the additional contribution from the four new hotels opening this year.

Current stock price: 340.00 pence, down 8.6%

12-month change: down 15%

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