By Angela Green: Today’s AGM statement from Dalata Hotel Group’s Chair.
Ireland’s largest hotel operator Dalata Hotel Group, which has established a growing presence in the UK and Europe, is holding its AGM today at 11:30am BST at Gibson Hotel, Point Square, North Dock, Dublin.
At the AGM, John Hennessy, Chair of Dalata, will make the following statement: “A year ago, I wrote of the challenges of 2021 and of the tentative feeling of optimism that we were experiencing then, as the worst effects of Covid-19 began to recede. At that time of global geopolitical and economic uncertainty, the future was unclear, but we believed that the return of activity in our key markets would allow us to plot a gradual course back to the levels of success we had enjoyed before the pandemic.
“As it transpired, our performance in 2022 exceeded even the most optimistic of expectations. The priorities that we adopted during the pandemic – to protect our people, our culture, our business, and our cash – has paid dividends. We reached several milestones during the year, including opening our fiftieth hotel and surpassing €500 million in hotel revenue. Our focus on our people and our customers is reflected in very positive feedback obtained through regular surveys. An increased emphasis on innovation is helping us mitigate the challenges of inflation and meet changing customer needs.
“In 2023, Dalata has continued to trade strongly. We disclosed in February that Group ‘like for like’ RevPAR1 was 25% ahead of 2019 levels for the January/February period; I am delighted to report that RevPAR is expected to be 28% ahead of 2019 for the January to April period. Q1 2022 performance continued to be impacted by Covid-19 related restrictions, however, the lifting of restrictions by Q2 2022 will allow for year-on-year comparisons to resume going forward. As we look ahead, we are optimistic for the summer months buoyed by the rebound in international travel, conferences and sustained domestic tourism.
“Our recent hotel additions continue to perform well, and we remain focussed on our growth strategy. We look forward to the opening of Maldron Hotel Finsbury Park, London in the summer of this year. Development works on our pipeline hotels are progressing, with the construction of our second Maldron Hotel in London, Maldron Hotel Shoreditch, on track for completion in Q1 2024. This will further enhance our portfolio of sustainable, modern four-star hotels as we continue to deliver on our strategic growth plan. Construction of our new Maldron leased hotels in Brighton, Liverpool and Manchester continues, with all scheduled to be completed in Q2 2024. Maldron Hotel Croke Park, Dublin is scheduled for completion in H1 2026.
“Dalata has emerged from two difficult years and has resumed the growth and success that have characterised the business since its inception. We will continue this growth in our target markets in the coming years. We are committed to upholding our responsibilities to the environment, to the communities in which we operate, to our customers, employees, shareholders and to all other stakeholders. Although there are many challenges ahead, we see a very bright future for our business.”