The owner of Dalata said that hotel bookings look positive when tourists return

Dalata’s chief executive said hotel bookings around major events were “strong” as the economy continued to reopen.

“The kind of reservation that is booked from afar will revolve around events big concerts, big games and they’re as strong as you’d expect,” Dermot Crowley, CEO of Ireland’s largest hotel group.

“There’s a huge program of events in places like Dublin, Manchester, right around Cork, Limerick, Galway [bookings] strongly around those events.

“Also, we have tour groups mainly from North America and Europe, [who] will book, and again they look pretty strong. Obviously they are traveling for the first time in more than two years, so that also looks positive,” he added.

Overall, “the vast majority” of corporate hotel bookings are “very late”.

“People tend to make decisions late, maybe two or four days in advance. Mr Crowley said it was always difficult to say what future bookings would look like.

His comments came as the 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 year before. that, according to the annual results.

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.

Revenue in 2021 increased to 192 million euros from 136.8 million euros in 2020 and at 45pc in 2019.

After reopening hotels 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. Seven.

In November, it increased further to 2019’s 78pc, as domestic corporate events and business resumed.

Revenue per vacant room averaged €40 last year, up from €27.45 in 2020.

The company has a free cash flow of 28 million euros after interest payments, rent, refurbishment and capital expenditures.

Earlier this year, Dalata made its first foray into continental Europe with the purchase of a share in the rental of the Nikko hotel in Dusseldorf.

The move is in line with the group’s ambitions to establish a presence in major European cities that are “commercially attractive”, the company said at the time.

Dalata is continuing to look for opportunities to reach out to the continental arena.

“We are always looking, but we are also always patient… we will always have ongoing discussions about the potential opportunities emerging right across Europe,” said Mr. Crowley.

“Nothing’s going to happen right away, but we’re always looking for opportunities that can turn into something very quickly, or it might not work for us for one reason or another.” .

Going forward, the company is “optimistic about the continued recovery of business activity”.

Similar revenue per room availability in February of this year is expected to be at 91pc of the level achieved in 2019.

Shares in Dalata fell just over 4pc in early afternoon trading in Dublin on Tuesday. The owner of Dalata said that hotel bookings look positive when tourists return

Fry Electronics Team

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