• Cyril McAree

Dalata Hotel Group Deliver Revenue Growth of 11.8%


Dalata Hotel Group, Ireland’s largest hotel operator, with a growing presence in the UK, announce full year results this morning. Highlights include:

STRONG OPERATING PERFORMANCE

• Strong revenue growth of 11.8% to €393.7 million

• Revenue per available room2 (RevPAR) increased 4.7% to €94.13

• Adjusted EBITDA2 increased 14.0% to €119.6 million

• Adjusted basic EPS2 increased 11.7% to 42.8 cent

• Strong free cash flow2 of €86.6 million

STRONG BALANCE SHEET SUPPORTING FUTURE GROWTH

• Hotel assets2 of c. €1.2 billion including 2018 net upward property revaluation gain of €99.8 million

• Net Debt to Adjusted EBITDA2 of 2.3x

• Over 1,150 new rooms opened in Dublin, Belfast, Cork, Galway and Newcastle

• Pipeline of over 2,190 rooms in excellent locations delivering between now and 2021

ANNOUNCING TODAY

• The Board has proposed a final dividend of 7.0 cent per share

• Acquisition of a site adjacent to Clayton Hotel Cardiff Lane in Dublin for €5.5 million and plan to redevelop the area into circa 70 rooms and ancillary facilities

STRATEGIC AND OPERATING HIGHLIGHTS

• Over 1,150 new rooms opened during 2018:

- Opened Clayton Hotel Charlemont in Dublin and four new Maldron hotels in Dublin, Cork, Belfast and Newcastle

- Completed four extensions to existing hotels in Dublin (Clayton Hotel Dublin Airport, Maldron Hotel Parnell Square and Clayton Hotel Ballsbridge) and Maldron Hotel Sandy Road in Galway

• Met target of adding 1,200 new rooms to pipeline in 2018:

- 3 new leased hotels in Manchester, Bristol and Birmingham

- 2 new owned hotels, Clayton Hotel City of London (which opened on 24 January 2019) and Maldron Hotel Merrion Road in Dublin

Continuing to grow in 2019 - announced a new leased hotel with 200 rooms at Spencer Place, Dublin and the purchase of a building adjacent to Clayton Hotel Cardiff Lane, Dublin (circa 70 bedrooms)

€15.9 million invested in capital refurbishment across all areas of the Group’s hotels with 830 rooms refurbished in 2018

Agreed a new €525 million debt facility completing the refinance of previous debt facilities. The new facilities are on improved terms and include increased flexibility which will support Dalata in delivering its growth strategy

Commenced the payment of dividends with an interim dividend of 3.0 cent per share paid on 12 October 2018. The Board has proposed a final dividend of 7.0 cent per share.


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