Maldron-owner Dalata acquires London Apex Hotel for €62m

Marking the group's 19th UK location, the new hotel will be renamed as Clayton Hotel London Wall

Dalata CEO, Dermot Crowley

Ireland's largest hotel operator, Dalata has expanded further into the UK market, announcing the purchase of the Apex Hotel in London Wall.

In a deal worth £53.4m (€62.2m), the operator will acquire the long leasehold interest of the London hotel, an upscaled, 89-bedroom property with four-star facilities including a gym, ground floor lobby and a contemporary restaurant and bar.

Situated at 7-9 Copthall Ave in the city of London, the hotel has a long-term lease with 107 years left, which Apex owns. The consideration will be payable from Dalata’s existing facilities and the transaction is expected to complete in early July 2023.

The Hotel is located less than 10 minutes’ walk from Moorgate, Bank and Liverpool Street Stations, with Dalata saying it requires "minimal initial investment" and, on completion of the transaction, Dalata will rebrand the Hotel as Clayton Hotel London Wall.

The acquisition reflects Dalata's plans for additional expansion, with the group aiming to further enhance its operations across the UK and continental Europe.

In February, Dalata announced that it would open its first Maldron hotel in London. The property was acquired by Dalata for just under €50m and is located near Arsenal's Emirates Stadium at Finsbury Park. Its most recent acquisition marks the hotel group's 19th location in the UK.

“London is one of the world’s great cities. Securing existing hotels or sites to develop new hotels is very challenging as a result," said Dalata chief executive, Dermot Crowley.

"I am delighted that we have managed to secure two new hotels in the city in just four months. It demonstrates our ability to re-invest the funds that we generate from our existing hotels. We look forward to welcoming our new colleagues into the Dalata family.”

Operating both the Maldon and Clayton hotels in Ireland, Dalata's overall portfolio now exceeds 50 properties. At the end of its most recent financial year, Dalata reported revenue of €558.3m with profit after tax exceeding €96m.