Dalata Hotel Group PLC Signed A New Lease Agreement (7700V)
November 07 2017 - 5:15AM
UK Regulatory
TIDMDAL
RNS Number : 7700V
Dalata Hotel Group PLC
07 November 2017
Dalata Announces First Clayton Hotel in Scotland
ISE: DHG LSE: DAL
Dublin, 7 November 2017 | Dalata Hotel Group plc ("Dalata" or
"the Company") is pleased to announce that it has signed an
agreement to lease a new Clayton Hotel to be built in Glasgow, with
Artisan St. Enoch Quarter Limited, a subsidiary of Artisan Real
Estate Investors Limited.
The new hotel will be a 4-star property, ideally located in the
centre of Glasgow on the River Clyde, close to Glasgow Central
Station and within walking distance of the main shopping
thoroughfares and the International Financial Services District.
The hotel will have circa 300 air-conditioned bedrooms, a bar,
restaurant and conference facilities.
On completion of construction, Dalata will commence operations
in the hotel through a 35-year Operating Lease which will be
subject to five-year rent reviews linked to the Retail Price Index.
It is expected that the hotel will open in Q4 of 2020. The
construction of the hotel is subject to the receipt of planning
permission from Glasgow City Council.
Dalata already operates seven hotels in the UK, in London (two),
Cardiff, Leeds, Birmingham, Belfast and Manchester Airport. A new
Clayton hotel is also planned for the centre of Manchester as
announced in September. Dalata operates Maldron hotels in Derry and
Belfast Airport with two further Maldron hotels under construction
in Belfast and Newcastle. Dalata is Ireland's leading hotel company
where it operates 12 Clayton and 12 Maldron hotels.
Dermot Crowley, Deputy CEO - Business Development and Finance,
said: "Glasgow is one of the 20 cities that we have announced today
as a target city for our Clayton and Maldron brands. Glasgow is not
only Scotland's largest city, it is also a city with an exciting
mix of large corporate employers, extensive conference and event
facilities and leisure attractions. We are very pleased to have
secured such a prime location as Clyde Street and look forward to
workings with Artisan Real Estate Investors in developing this new
Clayton hotel."
Clive Wilding, Property Director - Artisan Real Estate Investors
added: "We are pleased to have formed a development partnership
with Dalata Hotel Group for this flagship regeneration opportunity
providing the chance to restore the forgotten Grade A listed Custom
House into a part of the new development. This will complete the
bookend of one of Scotland's most successful retail streets, as
well as being within touching distance of the commercial heart of
Glasgow. The new hotel forms the key part of a wider mixed-use
development, for which the planning process will start shortly,
with a view to being on site at the end of 2018 and open for
business in 2020."
ENDS
Contacts
Dalata Hotel Investor Relations Dalata Hotel Investor Relations
Group PLC & Public Relations Joint Company Berenberg Group PLC & Public Relations Joint Company Berenberg
Dermot Crowley, FTI Consulting Brokers Ben Wright Dermot Crowley, FTI Consulting Brokers Ben Wright
Deputy CEO Business Melanie Farrell Davy T: +44 20 3753 Deputy CEO Business Melanie Farrell Davy T: +44 20 3753
Development T: +353 86 401 (Sponsor) 3069 Development T: +353 86 401 Anthony 3069
and Finance 5250 Anthony E: and Finance 5250 Farrell E:
T: +353 1 206 E: Farrell ben.wright@berenb T: +353 1 206 E: T: +353 679 ben.wright@berenb
9400 melanie.farrell@fticon T: +353 679 erg.com 9400 melanie.farrell@fticon 7788 erg.com
E: sulting.com 7788 E: sulting.com E:
dcrowley@dalatahotelgroup. E: dcrowley@dalatahotelgroup. anthony.farre
com anthony.farre com ll@davy.ie
ll@davy.ie
About Dalata
Dalata Hotel Group plc is Ireland's largest hotel operator, with
a current portfolio of 38 hotels with over 7,600 rooms. Dalata
successfully operates Ireland's two largest hotel brands, Clayton
Hotels and Maldron Hotels across Ireland and the UK, as well as
managing a small portfolio of partner properties. 26 of the hotels
are owned by Dalata, nine hotels are operated under lease
agreements and a small number of partner hotels are operated under
management agreements.
For the half year 2017, Dalata reported revenue of EUR161.8
million (full year 2016: EUR290.6 million). Dalata is listed on the
Main Market of the Irish Stock Exchange (DHG) and the London Stock
Exchange (DAL).
For further information visit: www.dalatahotelgroup.com
This information is provided by RNS
The company news service from the London Stock Exchange
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