Dalata Hotel Group PLC on Wednesday said it expects revenue to grow in all regions, with revenue from Dublin climbing slower than in regional Ireland and in the UK.
The Dublin-based hotel chain said it expects like-for-like revenue per room in the second quarter of 2023 to grow 11% overall, 15% in the UK and regional Ireland and 10% in Dublin.
For the first half of 2023, it said like-for-like revenue per room is set to be 29% higher than in the same period in 2019, when it was €87.62. In the first half of 2022, it was €91.75.
Adjusted earnings before interest, tax, depreciation and amortisation for the first half of 2023 are set to grow at least 20% to over €100 million from €83.5 million a year prior.
Dalata said the anticipated climb ‘reflects a very strong first half trading performance across the group’s existing hotels and the continued impact of new hotels as they ramp up,’ further noting development works for Maldron hotels in Shoreditch London, Brighton, Liverpool and Manchester which are set to open in 2024.
Chief Executive Officer Dermot Crowley said: ‘We continue to deliver on our growth strategy with the exciting addition of two new hotels in London since the start of the year. The excellence of our people, the ongoing strength of demand across our markets and the quality of our portfolio gives me great confidence for the remainder of the year.’
The company had released its last half-year results to June 30, 2022 on August 31, 2022.
Dalata Hotel shares fell 3.2% to 368.74 pence each on Wednesday morning in London.
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