Dalata Hotel Group PLC on Wednesday said it bought a development site in Edinburgh from Aviva Life & Pensions UK Ltd.
The Dublin-based hotel chain said the acquisition of the site located fronting onto St. Andrew’s Square was for a consideration of £12.5 million.
Dalata plans to submit a revised planning application in the first quarter of 2024, to construct a new four-star Clayton Hotel with 153 bedrooms, which it expects to complete by mid-2026. The total investment including the purchase will be around £48 million.
Further, the company said it completed the acquisition of a leasehold interest in Hard Rock Hotel Amsterdam American for €29.5 million. It bought the entire issued share capital of American Hotel Exploitatie BV, which holds the operating leasehold, from Zien Group.
Chief Executive Officer Dermot Crowley said: ‘Edinburgh has long been a target city for us to locate our brands and we are delighted to have secured such a prestigious building in the centre of the city. This will be our third hotel in Scotland.
‘We are also delighted to have secured our first Clayton hotel in Amsterdam. The American Hotel has a renowned reputation in the city and we will continue to protect and enhance that with our Clayton brand. I offer an especially warm welcome to the hotel staff today, as they join the wider Dalata family.’
Dalata shares were flat at 355.91 pence each on Wednesday morning in London.
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