Losses at Ireland’s largest hotel group, Dalata, narrowed last year, as Covid restrictions began to ease.
His company, whose brands include Clayton and Maldron hotels, reported a pre-tax loss of 11.4 million euros in 2021, down from a loss of 111.5 million euros the previous year, according to the results. annual fruit.
In 2019, Dalata reported a profit of 89.7 million euros.
Earnings before interest, taxes, depreciation and amortization were €63 million last year, up from €18.7 million in 2020.
Last year’s revenue rose to 192 million euros from 136.8 million euros in 2020 and was at 45pc in 2019.
After hotels reopened at the end of the second quarter of last year, Dalata said similar group revenue per available room increased from 19 points in 2019 in the first six months of 2021 to 58 points in October. 7 and 78 points in November as events and business enterprises in the country return.
Revenue per vacant room averaged €40 last year, up from €27.45 in 2020.
The company has a free cash flow of €28 million after interest payments, rent, refurbishment and capital expenditures.
Dalata, which recently announced its entry into Continental Europe, says it is “well positioned to recover demand and respond to changing customer needs with a strong financial position, stable team determined and experienced and continues to focus on innovation.”
Initial growth will be driven primarily through further revitalization of existing portfolios and new hotels financed primarily by long-term leases, while cash flow generation returns to pre-contemporary levels. translation, the company said.
Going forward, the company said it is “optimistic about the continued recovery of business activity.”
“As I look back on 2021, I am extremely proud of the agility and commitment shown by our teams in a constantly changing environment,” said Dermot Crowley, CEO of Dalata.
“We ended the year with sales of 192 million euros, which is a significant achievement given that our hotels were not open to the public for most of the first half of the year.”
https://www.independent.ie/business/irish/losses-narrow-at-irelands-largest-hotel-group-41397044.html Closing the hole at Ireland’s largest hotel group