Dalata's Irish revenues decline since January but 'modest' growth recorded in UK

• Published date: 25 April 2024
• Author: Ciara O'Brien
• Publication title: Irish Times: Web Edition Articles (Dublin, Ireland)

Dalata said the timing of certain events in 2023 was also creating an unfavourable comparison, such as the visit of US president Joe Biden that boosted demand in April 2023

However, its UK portfolio is expected to achieve "modest" growth in revenue per average room between January and April, and corporate demand remained "healthy", Dalata said.

The company is holding its annual general meeting in Dublin on Friday.

Dalata, which floated on the stock exchange 10 years ago, has 53 hotels across Ireland, the UK and continental Europe, and recorded more than €600 million in revenue last year.

"2023 marked another record performance for the group in terms of revenue and free cash flow generation together with strong execution of our growth strategy. We added a hotel in Amsterdam, two hotels in London and secured a building conversion opportunity in Edinburgh, representing three very commercially-attractive cities in our target markets," said John Hennessy, chair...