Group not acquiring stake in two hotels

The Dalata Hotel Group — which owns the Maldron chain of hotels — has said it will not acquire any share of the Clyde Court and Ballsbridge Hotels in Dublin City.

In early August, the group entered into conditional agreements to acquire the 25% stake of the holding companies of the two hotels — formerly the Berkeley Court and Jurys — owned by US investment giant Blackstone.

However, the other main shareholders, Ulster Bank and ACC Loan Management, had first refusal and have now exercised their pre-emption rights.