| Dalata Hotel Group PLC (DAL,DHG) Dalata Hotel Group Hosts Investor Day in London Target of growing existing footprint to 21,000 bedrooms by 2030 Trading Update for September and October Announcing €25 million share buy-back
ISE: DHG LSE: DAL
Dublin and London | 15 October 2024: Dalata Hotel Group plc (‘Dalata’ or the ‘Group’), the largest hotel operator in Ireland, with a growing presence in the United Kingdom and Continental Europe, is hosting an investor day today with presentations and a hotel tour for institutional investors and analysts.
The presentations from senior management will begin at 10:00 BST and will include an overview of the Group’s 2030 Vision, growth strategy, a review of the Group’s marketing transformation journey and a financial review. The presentations can also be accessed live, virtually using the link here. Please allow sufficient time for registration. A copy of the presentations will also be made available on our website.
The management presentations will be followed by an in-person tour of the newly opened Maldron Hotel Shoreditch, London.
Today, we are disclosing:
As part of our 2030 Vision, and as we continue to create long-term value for our shareholders, we are targeting an increase in our footprint from 12,000 to 21,000 bedrooms, either open or in development by 2030. Additionally, we are aiming to become the largest hotel operator in the four-star segment of all major cities in Ireland and Regional UK by 2030 with a growing presence in London and Continental Europe. We remain focused on both the acquisition of existing hotels and development of new hotels through a balanced mix of leasehold and freehold ownership, using our combined expertise as both a hotel operator and developer underpinned by strong financial discipline.
As previously announced, the Group’s ‘like for like’ RevPAR was 1% ahead of the equivalent 2023 levels for July and August. Positive momentum has continued through the year and the Group expects to achieve RevPAR growth of 2% on 2023 levels for September and October. For the two-month period, RevPAR for the Dublin portfolio is expected to be 1% ahead of 2023 levels while the Regional Ireland portfolio is expected to be 4% above. The UK portfolio is expected to be 1% ahead of 2023 on a ‘like for like’ basis, helped by the inclusion of the two London hotels added to the portfolio last summer, both of which are showing strong growth versus last year. Corporate revenue for the two-month period also remains robust and in line with 2023.
The Group remains positive in its outlook for the remainder of the year as we continue to see a strong return of corporate business after the summer period and good leisure demand around events. In particular, we expect good demand in November in Dublin on the back of a strong events calendar.
As previously announced, the Group has completed its first share buy-back programme.
The Group continues to actively manage its existing freehold hotel portfolio and is in the advanced stages of selling two hotels located in Regional Ireland, considered non-core to the Group. Taking the expected proceeds from the sale of these hotels into consideration, the Group is pleased to announce a new share buy-back programme of €25 million. The €25 million share buy-back will commence in the coming days subject to market conditions. Dermot Crowley, CEO, Dalata said: “I am excited to be in London today where we will provide an update on the business and our ambitious 2030 Vision. Our growth strategy and the role that marketing will play as we continue to expand our footprint will be an important element of today’s event. Since taking over as CEO, investing in our brands and our marketing strategy has been a key strategic focus and our performance is evidence of the positive impacts these initiatives have had across the Group. Our recent UK growth has been compelling with 11 hotels added in target cities since 2021, almost doubling our UK footprint. Continental Europe represents an exciting pathway to expand the Group’s footprint. I am excited about Dalata’s long-term outlook and this is underscored by our ambition of having 21,000 bedrooms either open, or in development, by 2030. At today’s event, guests will have the opportunity to tour our recently opened four-star Maldron Hotel Shoreditch, which features the refreshed Maldron brand and has been designed sustainably with a focus on the latest operational efficiencies. This hotel is further evidence of our growth strategy in action.” -ENDS- Virtual link https://us06web.zoom.us/meeting/register/tZEsduyrqzwpGtPyso-DXIjXf-KKgBlfJvHF#/registration
About Dalata Dalata Hotel Group plc is a leading hotel operator backed by €1.7bn in hotel assets primarily in Ireland and the UK. Established in 2007, Dalata has become Ireland’s largest hotel operator with an ambitious growth strategy to expand its portfolio further in excellent locations in select, large cities in the UK and Continental Europe. The Group’s portfolio comprises a mix of owned and leased hotels with 57 primarily four-star hotels operating through its two main brands, Clayton and Maldron Hotels, with 12,258 rooms and a pipeline of over 700 rooms. For the six-month period ended 30 June 2024, Dalata reported revenue of €302 million, basic earnings per share of 16.0 cent and Free Cashflow per Share of 21.5 cent. Dalata is listed on the Main Market of Euronext Dublin (DHG) and the London Stock Exchange (DAL). For further information visit: www.dalatahotelgroup.com
Contacts
Note on forward-looking information
This Announcement contains forward-looking statements, which are subject to risks and uncertainties because they relate to expectations, beliefs, projections, future plans and strategies, anticipated events or trends, and similar expressions concerning matters that are not historical facts. Such forward-looking statements involve known and unknown risks, uncertainties and other factors, which may cause the actual results, performance or achievements of the Group or the industry in which it operates, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. The forward-looking statements referred to in this paragraph speak only as at the date of this Announcement. The Group will not undertake any obligation to release publicly any revision or updates to these forward-looking statements to reflect future events, circumstances, unanticipated events, new information or otherwise except as required by law or by any appropriate regulatory authority.
Dissemination of a Regulatory Announcement, transmitted by EQS Group. The issuer is solely responsible for the content of this announcement. | ||||||||||||||||||||
| ISIN: | IE00BJMZDW83, IE00BJMZDW83 |
| Category Code: | MSCH |
| TIDM: | DAL,DHG |
| LEI Code: | 635400L2CWET7ONOBJ04 |
| OAM Categories: | 3.1. Additional regulated information required to be disclosed under the laws of a Member State |
| Sequence No.: | 352808 |
| EQS News ID: | 2008189 |
| End of Announcement | EQS News Service |
| |
