DJ Dalata Hotel Group PLC: Dalata Hotel Group Hosts Investor Day in London
Dalata Hotel Group PLC (DAL,DHG)
Dalata Hotel Group PLC: Dalata Hotel Group Hosts Investor Day in London
15-Oct-2024 / 07:00 GMT/BST
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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 EUR25 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:
1. 2030 Vision
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.
2. Trading update and outlook
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.
3. Capital allocation
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 EUR25 million. The
EUR25 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 EUR1.7bn 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 EUR302 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
Dalata Hotel Group plc investorrelations@dalatahotelgroup.com
Dermot Crowley, CEO Tel +353 1 206 9400
Carol Phelan, CFO
Niamh Carr, Head of Investor Relations & Strategic Forecasting
Joint Group Brokers
Davy: Anthony Farrell Tel +353 1 679 6363
Berenberg: Ben Wright / Clayton Bush Tel +44 203 753 3069
Investor Relations and PR | FTI Consulting Tel +353 86 401 5250
Melanie Farrell / Rugile Nenortaite dalata@fticonsulting.com
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.
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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 =------------------------------------------------------------------------------------
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(END) Dow Jones Newswires
October 15, 2024 02:00 ET (06:00 GMT)
