Dalata Hotel Group PLC Acquisition (4345N)
October 26 2016 - 1:00AM
UK Regulatory
TIDMDAL
RNS Number : 4345N
Dalata Hotel Group PLC
26 October 2016
Dalata Acquires Freehold Interest of
the Clayton Hotel Cardiff, Wales
ISE: DHG LSE: DAL
Dublin, 26 October 2016 | Dalata Hotel Group plc ("Dalata" or
"the Company") is pleased to announce that it has acquired Rush
(Central) Limited ("Rush") which holds the freehold interest of the
Clayton Hotel Cardiff for GBP24 million (c. EUR27 million).
The Clayton Hotel Cardiff is a 4 star hotel, excellently located
on St. Mary Street, in Cardiff city centre, a short walk from
Cardiff Central train station and the Principality (formerly
Millennium) Stadium. The hotel contains 216 air-conditioned
bedrooms, a bar and restaurant, a fitness suite and extensive
meeting room facilities. The Company currently holds a leasehold on
the property until 2046, at an annual rent of GBP1.511m per annum
subject to upward only rent reviews at five year intervals.
Rush also owns a restaurant located on the ground floor of the
building, which is leased to Viva Brazil Cardiff Ltd, on a 20 year
lease, expiring in 2032.
Dermot Crowley, Deputy CEO Business Development and Finance,
said: "Clayton Hotel Cardiff has performed very strongly this year.
We are delighted to be able to purchase the freehold interest of
the hotel. This transaction is consistent with our stated strategy
of buying out the freehold interests of those leased properties
with future unpredictable rent reviews."
ENDS
Contacts
Dalata Hotel Group Investor Relations Sponsor and Broker
plc & Public Relations Davy
Dermot Crowley, FTI Consulting Anthony Farrell
Deputy CEO Business Jonathan Neilan/Patrick T: +353 679 6363
Development and Berkery E: anthony.farrell@davy.ie
Finance T: +353 86 2314135
T: +353 1 206 / +353 86 6025988
9400 E: dalata@fticonsulting.com
E: dcrowley@dalatahotelgroup.com
About Dalata
Dalata Hotel Group plc is Ireland's largest hotel operator, with
a current portfolio of 40 three and four star hotels with over
7,500 rooms. Dalata successfully operate Ireland's two largest
hotel brands, the Clayton and the Maldron Hotels across Ireland and
the UK, as well as managing a portfolio of partner hotels. 24 of
the hotels are owned by Dalata, 9 hotels are operated under lease
agreements and 7 are operated under management agreements.
For the full year 2015 Dalata reported revenue of EUR225.7
million. Dalata is listed on the Main Market of the Irish Stock
Exchange (DHG) and the London Stock Exchange (DAL).
For further information visit: www.dalatahotelgroup.com
http://dalatahotelgroup.com/about-us/management-team/
This information is provided by RNS
The company news service from the London Stock Exchange
END
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