Dalata Hotel Group PLC - Irish hotel operator - Signs contracts to sell Clayton Crown Hotel in London as well as the underlying business to a company controlled by AG Hotels Group for £21 million cash. The Clayton brand is not included in the sale, the company says. The asset performed well, but was deemed not longer a core hotel asset as the company focuses more on central locations. The transfer of the business is scheduled for completion by late June.

‘This transaction represents excellent value and will assist us in our continued focus on securing central opportunities in attractive cities of the UK and continental Europe. London continues to be a priority for Dalata, and we look forward to opening our new hotel in Shoreditch in the second half of 2023,’ says Chief Executive Officer Dermot Crowley.

Current stock price: 324.04 pence, closed down 8.7% on Thursday

12-month change: down 11%

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