Profits at the Dalata Hotel Group soared to €28.5m last year, reflecting a significant expansion in the group’s business and further evidence of the country’s booming central hotel trade.
Group revenue increased by 185% to €225.7m for the year ended 31st December 2015. The massive jump can be attributed to the company’s buying spree during the period, which included 15 hotels – in particular, the purchase of nine hotels previously owned by Moran Bewleys.
Group revenue per available room (RevPAR) increased by 21.4%, driven primarily by an uplift in average room rate of 13.9%. In total, Dalata controls and leases over 7,700 rooms across Ireland and the UK.
At the end of 2015 the group also purchased the Tara Towers Hotel in Dublin for €13.2m, and purchased a site in the centre of Dublin for €11.9m to build a new 181 room Clayton hotel.
“We have €130 million remaining for further acquisitions and are very comfortable with the pipeline of opportunities,” said Mr. McCann.