Irish hotel operator Dalata Hotel Group expects to post record revenue this year, and its chief executive said the company had proved its ability to “ bounce back from the challenges of Covid-19”.
The company said in a trading update that annual revenue for 2022 would exceed €500m (£430m) for the first time, with adjusted EBITDA standing at more than €182m.
Corporate bookings have picked up after the summer, Dalata said, with a “notable” rise in North American visitors supported by the favourable exchange rate.
The company said hotel supply in Ireland was constrained due to rooms in use for government-related business, primarily providing emergency accommodation for refugees. “The timing and degree to which these rooms will return to the market remains uncertain,” it added.
“We continue to monitor the macroeconomic backdrop and any potential for a slowdown, most notably in domestic leisure demand,” the company said. “However, we are not seeing any such indicators in our trade levels to date.”
The company is building the Maldron Hotel in Shoreditch, EC2, with three more UK Maldron Hotels under construction in Brighton, Liverpool and Manchester, all scheduled to open in the first half of 2024.
Chief executive Dermot Crowley said: “2022 has been a very successful year for Dalata where we demonstrated our ability to bounce back from the challenges of Covid-19… We remain mindful of global inflationary cost pressures and the potential impact on consumer discretionary spending. We will continue to focus our efforts on protecting and growing the business sustainably as we have always done.”
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