Dalata, a hotel operator, revealed on Tuesday they plan to undertake a new €25 million share buyback scheme, following the completion of a previous scheme that was worth €30 million. This move is an extension of Dalata’s recent activities, which include running businesses under Maldron and Clayton brands.
Dalata recently reported strong trading results for September and October, anticipating a 2% year on year increase in revenue per available room (RevPar), a crucial metric in the hospitality business. However, performance varies according to region, with regional Ireland showing a growth of 4%, while Dublin and the UK seeing a modest increase of 1%.
The surge in UK growth is attributed to the incorporation of two new London hotels last summer. Despite the fluctuating statistics, the firm confirmed that corporate revenues have been resilient, closely mirroring last year’s figures.
Despite fears of a passenger cap at Dublin Airport damaging business operations and uncertain future for retiring workers, Dalata remains hopeful for the remaining year based on the steady return of corporate guests and robust leisure demand.
Dalata’s CEO, Dermot Crowley, expressed his excitement over the potential expansion of the group’s footprint into continental Europe, stating their impressive UK growth – 11 hotels added in targeted cities since 2021 nearly doubling their UK footprint. The firm anticipates having 21,000 rooms either open or in development by 2030, signalling Dalata’s positive long-term perspective.