2024
AGM Statement
Reflecting
on Dalata’s success and growth in the 10 years since IPO
ISE:
DHG
LSE:
DAL
Dublin and London |
25 April 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 holding its Annual General Meeting (“AGM”)
today at 11:30 am BST at Clayton Hotel Cardiff Lane, Sir John
Rogerson’s Quay, Docklands, Dublin. Shareholders are welcome to
attend the meeting in person or participate in the AGM
electronically using the link below.
At the AGM, John Hennessy, Chair of
Dalata, will make the following statement:
“In March this year
we celebrated ten years since Dalata’s flotation on the stock
exchange. Reaching this milestone encourages us to reflect on the
strong progress and growth we have achieved during that time. In
the year prior to flotation, the Group’s revenue was just over €60
million with hotel assets of €5 million. Ten years on, Dalata has
become the leading hotel operator in Ireland and has significantly
expanded its footprint, with 53 hotels across Ireland, the UK and
Continental Europe, delivering over €600 million revenue in 2023
with hotels assets of €1.7 billion at the end of last year. We
remain committed to our belief that hospitality is all about people
and Dalata’s success would not have been possible without the
dedication and talent of our people who continue to deliver for our
customers, our shareholders, and our other stakeholders.
2023 marked another
record performance for the Group in terms of revenue and free
cashflow 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. We have embraced a culture of innovation in our
determination to increase efficiency and sustainability across our
business. In 2023, we successfully protected margins despite the
cost inflationary environment and reduced carbon emissions per room
sold whilst maintaining strong customer and employee feedback
scores.
2024 has commenced
with good performance for our UK portfolio which is expected to
achieve modest RevPARi
growth on January to
April 2023. We also continue to see healthy levels of corporate
demand across all regions. As reported during our full year results
in February, there has been lower levels of trade in Ireland. While
the Dublin market continues to digest the impact of new supply,
trade improved during March compared to January and February. The
timing and nature of events compared to 2023 (such as the visit of
US President in April 2023) in addition to the increased VAT rate
from September 2023 has had an impact during the first four months.
RevPAR[i] for
the Group is expected to be 4% behind 2023 for the period of
January to April on a ‘like for like’ basis. As we look ahead, we
remain optimistic in our outlook for the remainder of the year
where trade typically is driven by stronger seasonal factors,
supported by a strong events calendar, flight schedules and forward
bookings for May and June. We also look forward to the greater
contribution from the ten hotels added to the portfolio since 2022
as they mature and the additional contribution from the four new
hotels opening this year.
Earlier this week we
launched our refreshed Clayton and Maldron brands. Our new brands
reflect our commitment to delivering value while fostering
meaningful connections with our people and customers and provide an
exciting platform for continued growth. We are also excited that
this year will see the opening of four new Maldron hotels across
the UK, all centrally located in our target cities of Liverpool,
Brighton, Manchester and London. The Group has considerable
firepower available for further growth in line with our ambitious
and disciplined growth strategy. We remain focussed on growing in
11 key cities in the UK and establishing a presence in targeted
large European cities with a strong mix of corporate and leisure
demand.
I feel a great sense
of pride as I reflect on the growth, performance and operational
enhancements we have achieved as a Group over the past ten years.
The business continues to be extremely well served today, by
talented and experienced people who embody the Dalata culture and
vision, which together with our financial strength, positions us
well as we look to the future, respond to challenges and take
advantage of opportunities as they arise.”
AGM
details
Shareholders can access the AGM,
ask questions and vote, via a virtual meeting platform. This can be
done by accessing the meeting website at
meetnow.global/DHGIAGM2024 on the date appointed for the AGM.
The results of the resolutions relating to the AGM will be
published later today. Further information relating to the AGM is
published on the Company’s website at
https://dalatahotelgroup.com/investor-relations/shareholder-centre/
-ENDS-
About
Dalata
Dalata Hotel Group plc
is a leading hotel operator backed by €1.7bn in freehold and long
leasehold assets 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 53 primarily four-star hotels
operating through its two main brands, Clayton and Maldron Hotels,
with 11,413 rooms and a pipeline of over 1,500 rooms. For the year
ended 31 December 2023, Dalata reported revenue of €607.7 million,
basic earnings per share of 40.4 cent and Free Cashflow per Share
of 59.7 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
|
Sean McKeon, Company Secretary and Head
of Risk and Compliance
|
Niamh Carr, Head of Investor
Relations
|
Joint Group Brokers
|
|
Davy:
Anthony Farrell
|
Tel +353 1 679 6363
|
Berenberg:
Ben Wright
|
Tel +44 20 3753 3069
|
|
|
Investor Relations
and PR | FTI Consulting
|
Tel +353 86 401 5250
|
Melanie Farrell
|
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.