Ireland-based Dalata Hotel Group has agreed to acquire Moran Bewley’s Hotel Group for around €455m.
Moran’s portfolio includes nine hotels, comprising 2,506 rooms across Ireland and the UK. The group has four hotels in Dublin, two hotels in London and one hotel in each of Cork, Manchester and Leeds.
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The deal does not include the Red Cow Moran Hotel and the Red Cow Inn Complex in Dublin.
Dalata noted that the acquisition offers the group an opportunity to acquire a large and well invested portfolio of three and four star hotels with 2,506 rooms.
The deal allows Dalata to expand its operations in the key Dublin market, where Moran has a total of 1,423 rooms.
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Dalata Hotel Group CEO Pat McCann said: "The acquisition of the Moran Bewley’s Hotel Group is a transformational development for Dalata.
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By GlobalData"It is a business we have admired for a long time and the acquisition is a rare opportunity to acquire a large well invested portfolio of hotels.
The transaction is subject to approval by shareholders and the CCPC.
Dalata currently operates 38 hotels with around 6,000 rooms. Other than the Maldron Hotel Cardiff, all of the hotels in the group’s portfolio are located in Ireland.
According to Dalata, of the 38 hotels operated by the group, four are owned, 11 are under lease/operating agreement and 23 are under short-term management agreement.
