Dalata Enters Into Agreement For 33 Suites In The Clarion Hotel Liffey Valley
Dalata Hotel Group plc (“Dalata” or “the Company”) is pleased to announce that it has entered into an agreement with Martin Ferris as Receiver to acquire the long leasehold interest of 33 suites in the Clarion Hotel Liffey Valley, Dublin 22, for a consideration of €8.58 million (“the Transaction”). It is expected that the Transaction will complete in September 2017.
As announced on 4th September 2017, Dalata completed the acquisition of the core Clarion Hotel Liffey Valley (incorporating 158 bedrooms, the leisure centre, meeting rooms, reception, bar & restaurant, car-park and 2 vacant retail units).
This Transaction announced today, the equivalent of 99 rooms, will result in Dalata owning and operating 257 bedrooms in the property which it intends to re-brand as a Clayton Hotel in the final quarter of 2017.The consideration is payable in cash.
Dermot Crowley, Deputy CEO Business Development and Finance, said: “We are delighted to acquire these additional bedrooms so quickly after the purchase of the core hotel and are very excited about the potential of the hotel under the Clayton brand.”