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.

An aggressive push into the UK market, from the latter part of 2016 onwards, will form the next phase of the Dalata Hotel Group’s ambitious expansion plans.

Ever in advance of Port of Cork’s move from sites in Tivoli and Cork city’s docks, the first handful of changes are starting to take place on Cork city’s eastern fringes, either side of the landmark Silversprings hotel - an entity which changed hands itself last December as part of the €455 million Dalata Hotel Group takeover of the Moran-Bewley hotels chain.

The Dalata Hotel Group has reached agreement to buy nine of the hotels in the Moran-Bewley Hotel business for €455m.