on Dalata Hotel Group PLC (isin : IE00BJMZDW83)

Dalata Hotel Group PLC: HY 2024 Trading Update

Dalata Hotel Group PLC, the largest hotel operator in Ireland with a growing presence in the UK and Europe, has released its trading update for the first half of 2024. Despite a quieter start to the year with Group RevPAR 4% behind 2023 levels, improvement was seen in May and June, where RevPAR was 3% ahead of last year. The Group expects Adjusted EBITDA to exceed €105 million, surpassing 2023 levels.

CEO Dermot Crowley noted the impact of increased supply and a VAT hike on RevPAR in Dublin but expressed optimism for the summer, citing strong demand indicators and a positive response to brand refreshes. The Group plans to expand its UK presence by 20% in 2024 with new hotel openings in Manchester, Liverpool, Brighton, and London.

While inflationary pressures and rising pay rates remain challenges, Dalata focuses on innovation to enhance productivity and customer experience. Ongoing strategic growth is supported by the Group's robust balance sheet and cash-generative business.

R. E.

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