Maldron hotel operator Dalata expects revenue to reach €600m

In a trading update, Dalata CEO Dermot Crowley attributed the “exceptional result” to the “strong operational performance across our existing hotels and the impact of new additions to the portfolio”.

The largest hotel operator in Ireland Dalata reported another record year after adding to its portfolio and benefitting from high room rates.

The Maldron operator shares jumped 2% this morning after it said hotel revenue is expected to exceed €600m for the year, surging from just over €500m reported in 2022.

In a trading update, Dalata CEO Dermot Crowley attributed the “exceptional result” to the “strong operational performance across our existing hotels and the impact of new additions to the portfolio”.

Revenue per available room for the second half of the year increased again by an expected 3%, compared to levels during the same period last year.

The company said it is optimistic in its outlook for the upcoming year especially with the return of more direct flight connections and the anticipated further recovery in corporate travel.

Earnings for the year are forecast to reach around €220m, up from €183m last year.

The owner of the Clayton hotel started trading at recently acquired hotels in the UK and Amsterdam and said it will also benefit from the addition of around four more hotels in the UK next year.