Dalata Hotel Group PLC AGM Statement (7958X)
May 02 2019 - 1:00AM
UK Regulatory
TIDMDAL
RNS Number : 7958X
Dalata Hotel Group PLC
02 May 2019
2019 AGM Statement
ISE: DHG LSE: DAL
Dublin and London | 2 May 2019: Dalata Hotel Group plc ("Dalata"
or "the Group"), the largest hotel operator in Ireland with a
growing presence in the United Kingdom, is holding its AGM today
at
11.30 GMT at the Clayton Hotel Ballsbridge, Merrion Road,
Ballsbridge, Dublin 4.
At the AGM, John Hennessy, Chairman of Dalata, will make the
following statement:
"I am pleased to report that 2018 was another very successful
year for Dalata. We delivered strong earnings growth, paid our
maiden dividend to shareholders and secured new debt facilities of
EUR525 million maturing 2023. We continued to expand our portfolio
of hotels and having started 2018 with 7,600 rooms we now have over
9,000 rooms.
This momentum has continued into 2019 as we maximise on-going
returns from our existing portfolio. The six new hotels that opened
on time and on budget during 2018 and early 2019 are progressing
well. Maldron Hotel Belfast City and Maldron Hotel Kevin Street,
Dublin opened in March and July 2018 respectively. In the final
quarter of 2018, we opened three new hotels; Clayton Hotel
Charlemont in Dublin, Maldron Hotel South Mall in Cork and Maldron
Hotel Newcastle. In January 2019, we opened the newly acquired,
Clayton Hotel City of London. Overall, the Group's trading
performance in the first four months of 2019 is in line with our
expectations and ahead of the first four months of 2018.
RevPAR in the Dublin market as a whole is effectively on a par
with last year for the first quarter of 2019. We are delighted to
report that on a 'like for like' basis, RevPAR in our Dublin hotels
was up 2.4%. RevPAR growth in our Regional Ireland hotels is
positive and ahead of the market as a whole. On a 'like for like'
basis, RevPAR at our UK hotels was up 3.0%(1) in the first quarter
of 2019 and in all but one city, our hotels outperformed the market
in RevPAR growth. Dalata's trading in the second quarter remains
encouraging and the outlook for the first six months of the year is
positive.
Our pipeline of almost 2,200 rooms is scheduled to open between
late 2020 and Q2 2021. The new hotels are ideally situated in prime
city-centre locations in Bristol, Manchester, Glasgow, Birmingham
and Dublin. We remain very encouraged about our opportunities for
growth and are currently looking at extensions to our existing
properties as well as securing additional hotel leases in our
twenty target cities in the UK.
It is the culture and people at Dalata that continue to underpin
our success, what we call 'The Dalata Way'. Our six new hotels were
opened by management teams that grew up in Dalata, who understand
our business model and our culture. In 2019 we will continue to
develop our people and promote our culture of providing top-class
customer service, transparency, empowerment and support.
I am also pleased to announce the appointment of Alf Smiddy as
designated non-executive director for engagement with the Company's
workforce, in line with the provisions of the UK Corporate
Governance Code (July 2018), with immediate effect. Alf is the
Senior Independent Director and Chair of the Company's Nomination
Committee and this appointment is designed to ensure that the
issues that matter most to our employees are considered by the
Board in its decision-making processes at all times.
We continue to monitor the possible outcome from Brexit and our
position remains that there will be both challenges and
opportunities for Dalata. We are confident that 2019 will be
another exciting year for the Group. Our strong team of people will
continue to drive the business forward and ensure we are focused on
delivering excellent returns for our shareholders".
ENDS
Upcoming events
Dalata expects to announce its results for the six months to 30
June 2019 on Tuesday 3 September 2019. Dalata will host a Capital
Markets Day for analysts and institutional investors in London on
Tuesday 5 November 2019.
About Dalata
Dalata Hotel Group plc was founded in August 2007 and listed as
a plc in March 2014. Dalata has a strategy of owning or leasing its
hotels and also has a small number of management contracts. The
Group's portfolio consists of 30 owned hotels, ten leased hotels
and three management contracts with a total of 9,046 bedrooms. In
addition to this, the Group is currently developing eight new
hotels with a total of 2,193 bedrooms and these will open over the
next three years. This will bring the total number of bedrooms in
Dalata to over 11,000. Dalata now has close to 5,000 employees. For
the full year 2018, Dalata reported revenue of EUR393.7 million and
a profit after tax of EUR75.2 million. 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
Dalata Hotel Group plc Tel +353 1 206 9400
Pat McCann, CEO investorrelations@dalatahotelgroup.com
Dermot Crowley, Deputy CEO,
Business Development and Finance
Sean McKeon, Company Secretary
and
Head of Risk and Compliance
Joint Company Brokers
Davy: Anthony Farrell Tel +353 1 679 6363
Berenberg: Ben Wright Tel +44 20 3753 3069
Investor Relations and PR | FTI Tel +353 86 401 5250
Consulting
Melanie Farrell dalata@fticonsulting.com
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END
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