Dalata Hotel Group signals it will not bid for Dublin's Gresham Hotel

The Dalata Hotel Group has effectively ruled itself out of the race to buy Dublin’s famous Gresham Hotel, which formally went on the market last week with a price tag of over €80m.

Management said yesterday that it expected bidding for the Gresham to be dominated by international investors and that it would rather hold available acquisition funds for other projects.

Already the largest hotel operator in Ireland, via its Maldron and Clayton brands, Dalata has been on an aggressive expansion drive over the past 12 months; after raising over €200m in equity and €282m in debt to fund acquisitions.