Ireland-headquartered hospitality company Dalata Hotel Group has reported a revenue of €652.2m ($708.5m) for 2024, marking a 7.3% increase from €607.7m ($660.2m) in the previous year.
The company’s adjusted EBITDA also rose by 5.1% to €234.5m ($254.7m) in 2024 from €223.1m ($242.3m) in 2023.
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However, profit after tax saw a 12.7% decrease from €90.2m to €78.7m in 2023, attributed to increases in accounting charges from refinancing and portfolio growth.
The group generated free cash flow, after refurbishment capital expenditures and finance costs, amounting to €123.7m (55.8¢ per share) for 2024.
Dalata’s ambition is to become the leading hotel operator in the four-star segment across its target cities in the UK and Ireland, with an expanding presence in London and Continental Europe.
By 2030, Dalata aims to reach 21,000 rooms through a strategy that includes acquisitions, new developments, and a mix of leasehold and freehold properties.
The company has expanded its pipeline by 910 rooms since October 2024.
Dalata acquired the Radisson Blu Hotel at Dublin Airport for €83m, subject to Competition and Consumer Protection Commission approval, and has also secured a lease for a new 154-room Clayton Hotel on Old Broad Street, London.
In January 2025, the group secured a lease for a second hotel in Edinburgh, a 256-room Clayton Hotel, with an anticipated opening in the first half of 2028, pending planning approval.
Last year, Dalata opened four new Maldron hotels, adding 838 rooms and expanding its UK portfolio to more than 5,000 rooms.
The company has announced a pipeline of over 1,600 rooms, with construction underway at the Maldron Hotel Croke Park in Dublin and Clayton Hotel St Andrew Square in Edinburgh.
As part of its portfolio optimisation strategy, Dalata sold two freehold hotels in Wexford, Ireland, for €29.6m, realising a gain of €10.8m over the acquisition cost.
The group anticipates ‘like-for-like’ revenue per available room (RevPAR) to be 2.5% higher in the first quarter of 2025 compared to 2024, with Dublin expecting a 5% increase due to supply absorption.
Hotel payroll costs are expected to increase by approximately 5% in 2025, driven by changes in UK National Insurance, higher minimum wages in Ireland, and increased living wages in the UK.
Dalata plans to mitigate these costs through efficiency measures, RevPAR growth, and a €2m reduction in energy costs.
Dalata Hotel Group CEO Dermot Crowley said: “Since 2021, Dalata has undergone a remarkable transformation. Our brands and marketing processes have been revolutionised, and sustainability is now deeply embedded in our operations. Both our people and customers report higher satisfaction than ever before.”
“This growth and the significant value delivered to our shareholders are a testament to our dedicated and talented team, strong operating model, robust financial position, and disciplined growth strategy.”
