Dalata Hotel Group PLC on Wednesday announced plans to buy The Radisson Hotel Dublin Airport for €83 million.
Dalata is a hotel company based in Dublin. It operates a portfolio of hotels across Ireland, the UK and Germany.
Dalata said it has exchanged contracts for the purchase of the entire issued share capital of CG Hotels Dublin Airport Limited, which holds the long leasehold interest in the hotel.
The total consideration will be financed from Dalata’s existing cash and banking facilities.
The Radisson Hotel Dublin Airport reported full-year earnings before interest, tax, depreciation & amortisation, pre-franchise fees and management fees, of approximately €6.5 million in 2023.
The hotel has 4.4 acres of land as well as two ‘significant’ planning approvals, which Dalata said offer future development opportunities.
Deputy Chief Executive Officer Shane Casserly said: ‘The acquisition of this hotel is a compelling opportunity to secure a strong revenue generating hotel, in an excellent location.
‘This hotel is well positioned to provide hospitality services to Dublin Airport passengers and the greater north Dublin community, supporting both the local and national economies.’
Dalata said the transaction is scheduled to close in the first half of 2025.
Upon completion the hotel will be rebranded as a Clayton hotel.
Dalata shares were up 4.2% at 365.70 pence each in London on Wednesday afternoon.
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