Hotel group Dalata reported a 30.4 per cent boost in revenue in its maiden financial results as a public company to-day.
The company also annouced its latest acquisition, the Holiday Inn Hotel in Belfast, and plans to rebrand the Moran Bewleys Hotels under the new four-star brand Clayton Hotels.
Revenues at the group, which floated on the Dublin Stock Exchange in March 2014, advanced by 30.4 per cent to €79 million in year to December 31st 2014, while pre-tax profits soared to €4.2m from €0.07m in 2013. Earnings (EBITDA) rose by 54 per cent to €8.2 million, and group revpar increased by 15.7 per cent on a ‘like for like’ basis primarily due to a 13.4 per cent increase in average room rate. Rents at the hotels it leases rose by 17.3 per cent to €16.2 million.Dalata has negotiated a term loan facility of € 282 million to part fund acquisitions and the group had no debt outstanding as of year-end 2014.