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18 Dec 2018 | 07:45

Dalata Hotel says full-year earnings will meet expectations

Dalata Hotel Group said earnings growth in the final four months of the year would in line with market expectations amid solid revenue per room growth in the UK and Ireland.

The Dublin market remained 'very strong' in the second half of the year, the company said. On a like for like basis', revenue per a room, or RevPAR, at its hotels grew by 8.8% for the 11 months to the end of November, above the market growth of 7.4%.

RevPAR at its UK hotels grew by 3.2% for the 11 month period, though performance in Leeds was 'marginally' behind, the company said.

The company continued cited 'good progress' on its development pipeline of over 2,100 rooms across the UK and Ireland. '2018 was earmarked as a year in which we would complete a substantial number of rooms, I am delighted that we have delivered these projects on time and within budget. We have opened two new hotels in Dublin and a new hotel in each of Belfast and Newcastle. We will open Maldron Hotel South Mall in Cork later this week. Early trading indications are very positive, said Dermot Crowley, Deputy CEO - Business Development & Finance. 'The positive trading impact of hotels opened during 2018 will be significant on a full year basis in 2019 which in turn will reduce our Net Debt to EBITDA ratio as we go through next year.

Story provided by StockMarketWire.com
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