Hotel articles

Dalata Drives On

Revenue at hotel group Dalata rose by 31 per cent in the first six months of the year, up to €35 million, as the group benefited from strong growth in the tou

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rist sector and an improvement in domestic consumer sentiment. Chief executive Pat McCann (pictured) also disclosed  that it is to buy the Tower Hotel in Derry, Londonderry for £4.4 million (€5.5m)and will continue to pursue further acquisitions.
In the six months to June 30th, earnings (EBITDA) at Dalata rose to €2.4 million from € 0.9m in the same period in 2013, while pre-tax profits stood at €943,000, up from a loss of €1.7m in the same period in 2013. Profit growth was derived from a combination of additional management contracts and favourable market conditions in the leased and owned business across all hotels, the company said.
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€300m tag on Moran Hotels

Rothschild has been appointed to sell the Moran Hotels chain for a price thought be in the region of €300 million.
According to EuroProperty, the pan-European property investment magazine, the investment bank was recenely appointed to sell the business.
The Moran group has 10 hotels in Ireland and Britain with 2,627 rooms, trading under its Bewley’s or Moran brands. 
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'Dublin Needs 5,000 Hotel Rooms'

Dublin needs to build as many as 30 additional hotels between now and 2020 to handle the expected growth in tourism and business travel, according to the head of the Irish Tourism

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 Industry Confederation .
 Speaking to the 'Irish Independent', ceo Eamon McKeon says that the capital needs as many as 5,000 additional bedrooms - equal to between 20 and 30 large new hotels.
 Figures released last week showed hotels in Dublin are now as busy as in the boom, but charging 22pc less. 
 Significant levels of new building are unlikely in the next couple of years while properties now owned or controlled by Nama and the other banks are "shaken out of the system," Eamonn McKeon said.
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Heritage Hotel sold

The Heritage Hotel in Killenard, Co Laois has been sold for more than the guide of €5.5m to a US investor. 

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The hotel was offered for sale on the instructions of receiver Kieran Wallace of KPMG.
The five star Laois hotel which is located off the M7 Motorway is an hour's drive from Dublin and comes with a Seve Ballesteros-designed golf course.
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K Club Loss of €5m.

The K Club has reported a loss of €5m for 2012 during which its revenue increased by €700,000 to €11.6m.

The owner, Michael Smurfit has revalued the resort at €67m representing a reduction of €16.2m in the assets of the company.

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