TVC sells hotel group stake for €30.4m

Dublin-based investment firm, TVC Holdings has sold its near 29% shareholding in newly floated hotel group, Dalata for €30.4m.

The move, which follows on from the firm selling nearly half of its shareholding in UTV Media for €22m last month, sees TVC realising a profit of €13.4m on its Dalata investment.

Dalata, the largest hotel operator in the Irish market via its Maldron Hotel brand, raised €265m from its dual float in Dublin and London earlier this week; with funds set to go on buying between 16 and 25 additional hotels and paying down existing debt.