Ireland’s largest hotel group Dalata said it expects revenues to exceed €600m following a “record year of growth.”

Last year, the business reported revenues of €516m, the first time the group’s revenues surpassed €500m.

In a trading update published today, the hotel operator said it also expects to post adjusted earnings before interest, tax, depreciation and amortisation (Ebitda) of more than €220m for 2023.

That compares with an Ebitda of €183m recorded by the group last year.

Revenue per available room rose 3pc ahead of 2022 levels, according to Dalata.

The group added three hotels added to its portfolio during the course of this year, all of which have now commenced operations.

Dalata said it is pleased with the performance of these hotels, the Maldron Hotel Finsbury Park, Clayton Hotel London Wall and Clayton Hotel Amsterdam American.

Four new hotels will be completed next year, including the group’s first locations in Brighton and Liverpool. It will also open its fourth Manchester hotel, as well as its fifth presence in London.

These new hotels will add a total of 834 rooms to Dalata’s portfolio, with the four expected to open in mid-2024.

The group also acquired a site in Edinburgh this year where it plans to develop a four-star Clayton hotel.

The hotel operator said its outlook for 2024 is optimistic due to an anticipated further recovery in business travel, as well as the return of more direct flight connections next year.

“Dalata is on course to deliver another exceptional result this year driven by strong operational performance across our existing hotels and the impact of new additions to the portfolio,” chief executive Dermot Crowley said.

“Our growth ambitions, coupled with strong demand across our markets and our financial capacity to secure attractive opportunities underscores our ongoing ability to deliver value to our shareholders,” he added.

Reporting On:www.independent.ie