2020 Half Year Results - Navigating the Storm & Positioning for Growth - Dalata Hotel Group Plc
←
→
Page content transcription
If your browser does not render page correctly, please read the page content below
2020 Half Year Results Navigating the Storm & Positioning for Growth
PRESENTING TEAM
Pat McCann Dermot Crowley
Chief Executive Officer Deputy Chief Executive
2 | Dalata HY 2020 Results
CONTENTS
Overview 4
Phased Approach To Covid-19 Challenge 5-8
Growth Strategy 9-16
HY 2020 Financial Review 17-23
Summary 24-25
Appendices 26-33
DISCLAIMER
The presentation contains forward-looking statements. These statements have been made by the Directors in
good faith based on the information available to them up to the time of their approval of this presentation.
Due to inherent uncertainties, including both economic and business risk factors underlying such forward-
looking information, actual results may differ materially from those expressed or implied by these forward-
looking statements. The Directors undertake no obligation to update any forward-looking statements
contained in this presentation, whether as a result of new information, future events or otherwise.
3 | Dalata HY 2020 Results
OVERVIEW
Navigating the Storm
Revenue of €80.8m Successful sale & leaseback of Clayton Hotel
Adjusted EBITDA of €10.1m Charlemont delivering €65m in liquidity
H1 2020 Loss Before Tax of €70.9m Cash/available facilities increased by €13m from €162m
in Dec 19 to €175m in June 20
Adj. EPS (13.1) cents
Launch of accredited Dalata Keep Safe Programme
100% of hotels re-opened
Very positive supports announced by Irish and UK governments
Occupancy starts recovery phase – 30% in July and projecting 40% for August
Projecting Adjusted EBITDA for the two month period to be in the range of €7.0m to
July / August Update
€7.5m
Debt facilities amended in July provide additional flexibility beyond our strong cash
balance, providing total cash of €110m and undrawn facilities of €111m at the end of
August
Positioning for Growth
Well placed for recovery with young, well invested portfolio, experienced Senior
Executive team and strong balance sheet
Growth Strategy Growth opportunity remains compelling
Remains Compelling
Announcing two new leased hotel deals in Brighton & Manchester
Experienced at identifying opportunities in a crisis
4 | Dalata HY 2020 Results
Clayton Hotel Charlemont, Dublin PHASED APPROACH TO COVID-19 CHALLENGE Slide | Slide | 5
PHASED APPROACH TO COVID-19 CHALLENGE
Phase 1
Protect our people, Phase 3
cash and business Re-opening the business
March 2020 July 2020
Phase 2 Phase 4
Using our time wisely & Drive long-term value
increasing liquidity
April - June 2020
6 | Dalata HY 2020 Results
PHASE 3 | RE-OPENING THE BUSINESS
Our key
priorities Getting back Protect cash and maintain Identify opportunities
to business strong liquidity emerging from the crisis
Phase 3 • All 44 hotels open • Reducing cash outflow • Constructions sites have re-
opened
July
• Anticipating low levels of • Utilise all available government
onwards international travel. Focusing on supports to protect cashflow • Assessing distressed
domestic markets and value and people opportunities as they arise
pricing
Re-opening
• Focused on aligning costs with
with social
• Domestic demand is encouraging low occupancies
distancing – Group occupancy of 30% in
July and projecting 40% for • Maintaining strong financial
Current August position with cash of €110m and
phase undrawn debt facilities of
• Dalata Keep Safe Programme €111m at end of August
well received by guests
• Leverage benefits of highly
skilled team & decentralised
model
7 | Dalata HY 2020 Results
PHASE 4 | DRIVE LONG-TERM VALUE
Our key
priorities
Getting back Protect cash and maintain Identify opportunities
to business strong liquidity emerging from the crisis
Phase 4 • Remain flexible and adapt to • Maintain asset backed balance • Likely to be distressed assets as
changing situations sheet with low gearing a result of Covid-19 crisis
The New • Capitalise on the advantages of • Continue to target strict • Pipeline of London opportunities
Normal well invested modern portfolio minimum rental cover for new emerging
(average hotel age of 16 years) leases (1.85x in year three)
No visibility yet • Regional UK structural growth
on when this • Leverage investment in new • Reviewing acceptable levels of opportunity remains compelling
phase starts. technologies and enhanced leverage
processes and procedures • Strong track record of securing
Virus is under opportunities that add value
control through • Continue to challenge all costs
effective
management or • Focus on sustainability
medical
advances.
8 | Dalata HY 2020 Results
Maldron Hotel Victoria, Manchester GROWTH STRATEGY Slide || 12 Slide Slide | 9
PROVEN TRACK RECORD OF GROWTH
5 year Adjusted EBITDA1 5 year Adjusted Basic EPS1 5 year Hotel EBITDAR margin
1 Pre IFRS 16 135
1 Pre IFRS 16
120
105 46
43 42.4% 42.6% 42.6%
38 39.6% 41.4%
(€million)
85
(cents)
63 27
20
5 year growth in portfolio value 5 year rooms by region 5 year Free Cash Flow1
8.9 100.6
1,471 8.5
Room Numbers2 (‘000)
7.1 7.4 86.6
1,176
999 71.7
(€million)
5.5
(€million)
822 59.3
48.5
609
Dublin Regional Ireland UK
1 Refer to glossary on slide 32
10 | Dalata HY 2020 Results 2 Includes owned & leased roomsGROWTH STRATEGY
Growth strategy in three key markets remains compelling
1 Excellent reputation has been established amongst property developers and agents
Two projects secured to date - Clayton Hotel City of London (opened Jan 2019) and
London Maldron Hotel Shoreditch
Financial, developmental and operational expertise to expand further in the city
2 Prime locations in larger cities with strong mix of corporate and leisure guests
Quality assets through new and recently refurbished hotels which can outperform
Regional UK older/tired competition
Operational expertise delivered through decentralised model
Track record of securing opportunities in these cities
3 Ownership and operating model provides a strong competitive advantage
Maldron and Clayton are leading brands in the market with a winning customer
proposition
Dublin
Growth continues through existing pipeline, optimisation of existing hotels and
opportunistic acquisitions
Strong balance sheet provides competitive advantage
11 | Dalata HY 2020 ResultsKEY MARKETS POISED FOR STRONG RECOVERY
IN PHASE 4
Strong recovery opportunity within existing portfolio footprint, which is located in key cities with
strong underlying demand drivers
Irish economy and Dublin market is underpinned by strong FDI from industries less impacted or
positively affected by Covid-19 including pharma, medical devices, TMT sector and financial
services (possible ongoing Brexit relocation drivers)
Pent-up tourist demand is likely to emerge for key destination cities, including Dublin & London
over the medium-term
Rescheduling of postponed events, including sporting tournaments, concerts, weddings, trade
conventions/conferences, and other events likely to aid recovery of demand
Dislocation from Covid-19 has the potential to result in rationalisation of Regional UK hotel
market due to the profile of the hotel owners and the age of room stock
International tourism has proven its resilience to various demand shocks over the long-term
12 | Dalata HY 2020 ResultsTOURISM INDUSTRY RESILIENT IN PAST CRISES
International Tourism – History of Surviving Crises Source: UNWTO
$bn 1.6
1,400 9 11 Global
Financial 1.4
1,200 Terrorist
Attacks Crisis 1.2
1,000
1.0
800 European
0.8
Sovereign
600 Debt Crisis 0.6
400 0.4
200 0.2
0 0.0
International tourism receipts (billion - USD) - LHS International tourist arrivals (billion) - RHS
Upward trend in Irish Tourism over 40 years Source: CSO
€bn
5.5 12.0
5.0
4.5 10.0
4.0
3.5 8.0
3.0
6.0
2.5
Global
2.0 4.0
Financial
1.5
Crisis
1.0 2.0
0.5
0.0 0.0
Visitors to Ireland expenditure - excluding international fares (billion - EUR) - LHS Visitors to Ireland (million) - RHS
13 | Dalata HY 2020 ResultsPIPELINE OF CLOSE TO 3,300 ROOMS
New hotels projected to contribute over €50m in stabilised EBITDAR1 when
fully operational
Construction sites have re-opened London - 149 bedrooms
Secured funding for all projects under construction Opening date to be confirmed for Maldron Hotel
Shoreditch
New rooms
2,000 Regional UK – 2,506 bedrooms
2020: Extension at Clayton Hotel Birmingham
1,500 2021: 1 leased hotel (Maldron Glasgow)
2022: 4 leased hotels in Glasgow, Bristol and
1,000 Manchester (x2)
Opening dates to be confirmed for 4 leased hotels
500 located in Birmingham, Manchester Victoria,
Liverpool and Brighton
0 Dublin – 635 bedrooms
2020 2021 2022 Opening 2020: Conference centre at Clayton Hotel Cardiff
dates to be Lane
confirmed
2021: 1 leased hotel (The Samuel)
Opening date
2022: 1 owned hotel (Maldron Hotel Merrion Road)
Under construction Planning granted Planning stage Opening dates to be confirmed for Maldron Hotel
1 Typically
Croke Park and the extension at Clayton Hotel
estimate stabilised EBITDAR in year three of normal operation
Cardiff Lane
14 | Dalata HY 2020 ResultsNEW PIPELINE SECURED
Signed agreement for lease on a new hotel in the city of Brighton
Brighton is an ideal location as a city. It is consistently one of the top RevPAR performers in Regional UK,
Brighton
has a significant level of older, smaller hotels with no new supply since 2014 and limited rooms in the
pipeline
City benefits from strong leisure and conference business due to its excellent transport connections.
Prime site, close to the waterfront and less than a two-minute walk to the Brighton Conference Centre
221-bedroom new build Maldron hotel with reception, bar, restaurant, gym and six meeting rooms
Signed agreement for lease on a new hotel in the
Manchester
city of Manchester
Central location complements our two current hotel
developments ongoing in the city
186-bedroom new build Maldron hotel, with
reception & coffee dock at ground floor and
bar/restaurant
15 | Dalata HY 2020 ResultsMOVING TO A GEOGRAPHICALLY DIVERSIFIED
PORTFOLIO
As at June 2020 Expectation on completion of Impact on Dalata
current pipeline
8,955 rooms 12,245 rooms 37% increase in rooms
Average age of hotels: Maintain a young pool of
Average age of hotels:
Group - 16 years assets which require less
Group - 15 years
UK – 11 years maintenance capex,
UK – 8 years
increasing cash available to
Geographical mix of rooms Geographical mix of rooms re-invest in the business
Further diversifying business
Reg UK
22%
geography
Reg UK
Dublin
London Dublin 37%
42%
7% 50% UK EBITDAR margins projected
Regl Ireland
to increase once the new
21% London Reg hotels are operating at
6% Ireland
15%
stabilised levels – targeting
average of 43% in year three
Ownership mix of rooms Ownership mix of rooms of normal operation
Leased
30% Leased
46% Owned
Owned 54%
70%
16 | Dalata HY 2020 ResultsMaldron Hotel Belfast City HY 2020 FINANCIAL REVIEW Slide | Slide | 17
POSITIVE EBITDA DESPITE COVID-19 CRISIS
Group Income Statement
Key Financials €million H1 2020 H1 2019 Negative Adjusted EBITDA pre IFRS 16 of €5.3m
Revenue 80.8 201.9 (H1 2019: positive Adjusted EBITDA pre IFRS 16
15.6 81.5
of €60.3m)
Segments EBITDAR
Hotel variable rent (0.3) (3.6) Proactive cost reductions and government
Central costs (4.3) (3.7) support schemes minimised the impact of lost
revenue on the bottom line
Share-based payments expense (1.1) (1.4)
Other income 0.2 0.6 Central costs in H1 2019 were lower than normal
due to a €1.5m writeback of an insurance
Adjusted EBITDA 10.1 73.4
provision. Excluding this impact, central costs
Net property revaluation movements (27.3) 0.9 were cut by 17.4% in H1 2020
Impairments (11.7) -
Main adjusting items for H1 2020 are the net
Other adjusting items (1.6) (0.1) property revaluation loss of €27.3m following the
Group EBITDA (30.5) 74.2 valuation of property assets and impairments of
€11.7m on other assets which were significantly
Depreciation of PPE and amortisation (13.8) (12.9)
impacted by Covid-19
Depreciation of RoU assets (10.6) (8.2)
Interest on lease liabilities (10.9) (9.3)
Other interest and finance costs (5.1) (6.0)
(Loss)/profit before tax (70.9) 37.8
Group KPIs H1 2020 H1 2019
(Loss)/profit for the year (63.1) 32.7
Occupancy 34.3% 80.2%
Basic (loss)/earnings per share (cents) (34.0) 17.7
Average room rate (€) 95.28 110.30
Adjusted basic (loss)/earnings per share
(13.1) 17.2 RevPAR (€) 32.69 88.48
(cents)
18 | Dalata HY 2020 ResultsDUBLIN SUPPLY IMPACTED BY COVID-19
Savills Ireland forecast additional Market segmentation with Market segmentation including
4,500 rooms from 2020 to 2023 existing supply future supply
Source: AM:PM and Savills Source: AM:PM Source: AM:PM and Savills
+12% 2020 market by rating Expectation for 2023
2,500
57% 51%
2,000
1,500 +5%
1,000 23% 21%
+2% +2%
11%
500 8%
6% 5% 6% 7%
4%
1%
0
2018 2019 2020 2021 2022 2023 Budget Aparthotel 2 Star 3 Star 4 star 5 star Budget Aparthotel 2 Star 3 Star 4 star 5 star
Estimate opening
Current market size of 22,300 rooms
Very limited Estimated 60% of these New supply moving Dublin
Open
Under Pre- towards more normalised
construction number of current rooms are over
construction
budget hotels 40 years old segmentation
Forecast for new rooms has decreased from 6,300 by 2022 to 4,500 by 2023
Government restrictions necessitated the closure of most construction sites during the Covid-19 lockdown. Some
owner/operators showing signs of over-gearing. Possibility that additional supply above will be further reduced/delayed
Number of Airbnb listings also likely to significantly reduce
19 | Dalata HY 2020 ResultsDUBLIN
All figures €million H1 2020 H1 2019 Proactive cost reductions and government
Total revenue 44.8 117.7 support schemes reduced the impact of lost
EBITDAR 13.4 55.6 revenue on EBITDAR
EBITDAR margin 29.9% 47.2%
Approximately 50% of rooms sold to domestic
30 June H1 2020 H1 2019 market in a typical trading year
Number of hotels1 16 16
Number of rooms 4,488 4,478 Occupancy of 12% in Q2
Occupancy of 24% in July and projected to be
KPIs2 H1 2020 H1 2019
29% for August
Occupancy 36.9% 85.8%
Average room rate (€) 100.65 123.14
RevPAR (€) 37.10 105.71
19 owned hotels and 7 leased hotels at 30 June 2020
2 KPIs include half year performance of all hotels
20 | Dalata HY 2020 ResultsREGIONAL IRELAND
All figures €million H1 2020 H1 2019 Proactive cost reductions and government
Total revenue 15.6 38.5 support helped reduce losses in the region
EBITDAR (0.3) 9.4
EBITDAR margin (2.0%) 24.5% Approximately 70% of rooms sold to domestic
market in a typical trading year
30 June H1 2020 H1 2019
Number of hotels1 13 13 Occupancy of 10% in Q2
Number of rooms 1,867 1,867
Occupancy of 51% in July and projected to be
KPIs2 H1 2020 H1 2019 69% for August
Occupancy 30.1% 70.0%
Average room rate (€) 86.27 93.59
RevPAR (€) 25.93 65.52
1 12 owned hotels and 1 leased hotel at 30 June 2020
2 KPIs include half year performance of all hotels
21 | Dalata HY 2020 ResultsUK
All figures £million H1 2020 H1 2019 Proactive cost reductions and government support
Total revenue 17.5 39.9 schemes enabled a positive EBITDAR despite the 56%
EBITDAR 2.1 14.4 reduction in revenue
EBITDAR margin 12.0% 36.2%
In a typical trading year, approximately 85% of rooms
30 June H1 2020 H1 2019 sold at our regional UK hotels are to the domestic
Number of hotels1 12 11 market. However, the international market typically
Number of rooms 2,600 2,445 represents approximately 50% at our London hotels
Like for Like KPIs2 H1 2020 H1 2019 Occupancy of 8% in Q2
Occupancy 33.0% 77.1%
Average room rate (£) Occupancy of 26% in July and projected to be 38% for
78.07 86.38
August
RevPAR (£) 25.79 66.59
18 owned hotels and 4 leased hotels at 30 June 2020
2 KPIs include half year performance of all hotels regardless
of when acquired
22 | Dalata HY 2020 ResultsHIGH QUALITY ASSETS, STRONG LIQUIDITY
Balance Sheet
30 June 31 Dec Strong balance sheet supports the Group through
All figures €million 2020 2019
challenging times.
Non-current assets
Property, plant and equipment 1,215.4 1,471.3
IFRS 16 Right-of-use assets 414.0 386.4 €1.2bn of prime hotel assets
Goodwill & intangible assets 31.8 36.1 €161m decrease in property valuations
Contract fulfilment costs 15.5 13.3 Contract fulfilment costs relate to the spend on the pre-
Other non-current assets1 21.8 12.6 sold residential development as part of the overall site
Current assets development including building the new Maldron Hotel
Trade and other receivables and Merrion Road
25.7 23.7
inventories
Strong liquidity - cash of €103m and undrawn committed
Cash 103.1 40.6
debt facilities of €72m at end of June
Total assets 1,827.3 1,984.0
Equity 885.7 1,072.8
Net Debt to Adjusted EBITDA3 of 7.4x (pre IFRS 16: 4.9x)
Loans and borrowings 441.9 411.7
IFRS 16 Lease liabilities 395.0 362.1
Trade and other payables 49.6 66.2
Other liabilities2 55.1 71.2
Total equity and liabilities 1,827.3 1,984.0
1. Other non-current assets include deferred tax assets, investment property and other receivables
2. Other liabilities include deferred tax liabilities, derivatives, provision for liabilities and current tax liabilities
3. Refer to glossary on slide 32
23 | Dalata HY 2020 ResultsMaldron Hotel Dublin Airport SUMMARY Slide | Slide | 24
SUMMARY
Protected our people, our business and our cashflow
H1 2020
Planned for the re-opening of our hotels
Re-opened all our hotels
Increased and amended our debt facilities
July / August Occupancy for the Group amounted to 30% in July and projecting 40% for August
Adjusted EBITDA in range of €7.0m to €7.5m
Secured new opportunities
Near term outlook remains uncertain, we believe global tourism will see a strong
resurgence in the medium term, with Dalata well placed to grow market share in a
dislocated marketplace
Supply dynamics likely to be favourable - elimination of less well resourced
Next Phase competitors and reduced new hotel developments
Well positioned for recovery:
• Strong decentralised management structure
• Young well invested portfolio
• Experienced Senior Executive team
Team with history of delivering growth & identifying opportunities in a crisis
Compelling Growth
Opportunity Delivering two new leased hotel deals in Brighton & Manchester
25 | Dalata HY 2020 ResultsClayton Whites Hotel, Wexford APPENDICES Slide | Slide | 26
PIPELINE OF CLOSE TO 3,300 ROOMS
Dublin UK
3 new hotels (2 leased, 1 owned) 10 new hotels (9 leased, 1 owned)
2 extensions to existing hotels 2 extensions to existing hotels
635 rooms 2,655 rooms
Owned Planning Construction Estimated
Property New Extension Rooms
or leased Granted started Completion
Clayton Hotel Charlemont x Leased 3 x x Q1 2021
The Samuel1 x Leased 204 x x mid 2021
Maldron Hotel Merrion Road x Owned 140 x x Q1 2022
Dublin Clayton Hotel Cardiff Lane:
- New conference centre x x x Q4 2020
Owned
- Additional rooms x 88 x TBC2
Maldron Hotel Croke Park1 x Leased 200 TBC2
London Maldron Hotel Shoreditch x Owned 149 x TBC2
Clayton Hotel Birmingham x Leased 44 x x Nov 2020
Maldron Hotel Glasgow1 x Leased 300 x x Q1 2021
Clayton Hotel Glasgow1 x Leased 303 x x Q1 2022
Clayton Hotel Manchester1 x Leased 329 x x Q1 2022
Clayton Hotel Bristol1 x Leased 255 x x Q1 2022
Regional
Maldron Hotel Manchester1 x Leased 278 x x Q1 2022
UK
Maldron Hotel Birmingham1 x Leased 325 x TBC2
Maldron Hotel Liverpool1 x Leased 260 x TBC2
Clayton Hotel Cambridge x Leased 5 TBC2
Maldron Hotel Victoria, Manchester1 x Leased 186 TBC2
Maldron Hotel Brighton1 x Leased 221 TBC2
Total 3,290
1 35 year operating lease
2 Opening dates to be confirmed
27 | Dalata HY 2020 ResultsGROWING A SUSTAINABLE BUSINESS
Formation of ESG board committee demonstrating Progress to date
commitment Our People
Identified priorities including: Currently have 688 people on
structured development
People development and employee wellbeing programmes. 1,800 enrolments
in our UK and Ireland Share Save
Health and safety schemes since 2016.
Community engagement Health and Safety
Reducing the number of
Environment incidents and accidents.
Starting journey, focused on improvement Community
engagement
Dalata Digs Deep raises
over €1.3m for partner charities.
Environment
All of our hotels use 100% green
electricity contracts, which is
AA B- verified as being sourced from
renewable generation.
28 | Dalata HY 2020 ResultsSIGNIFICANT SHAREHOLDER VALUE CREATED
DURING PANDEMIC
Sale & leaseback of Clayton Hotel Charlemont
Achieved
Retained leased asset with projected stabilised EBITDA1 of €2.5m to €3.0m p.a. exceptional yield
despite Covid-19
Development Profit of €23m pandemic
Enhanced liquidity during Covid-19 pandemic
February 2016 Mar 2016 – Nov April 2020
• Site purchased for 2018 • Sold for €65m with 35
€11.9m located in the • New 187 room hotel year lease
centre of Dublin city built for €29.7m • Annual rent of €3.05m
• Total development • Projected stabilised
cost of €220k per room EBITDAR1 of €5.5m to
€6.0m
1 Stabilised EBITDA/EBITDAR is calculated pre impact of Covid-19. It is now uncertain when
stabilised EBITDA/EBITDAR will be achieved given the impact of Covid-19 on the market.
29 | Dalata HY 2020 ResultsNEW MALDRON HOTEL VICTORIA, MANCHESTER Signed agreement for lease on a new hotel in the city of Manchester with a RJR Securities limited vehicle Central location complements our two current hotel developments ongoing in the city 186-bedroom new build Maldron hotel, with reception & coffee dock at ground floor and bar/restaurant Ideally located close to the Victoria train station, the Manchester Arena, the Spinningfields Commercial district and the retail core of the city. 30 | Dalata HY 2020 Results
NEW MALDRON HOTEL BRIGHTON Signed agreement for lease on a new hotel in the city of Brighton with Topland Group Brighton is an ideal location as a city. It is consistently one of the top RevPAR performers in Regional UK, has a significant level of older, smaller hotels with no new supply since 2014 and limited rooms in the pipeline City benefits from strong leisure and conference business, with a growing corporate base, due to its excellent transport connections 221-bedroom new build Maldron hotel with reception, bar, restaurant, gym and six meeting rooms Prime site, close to the waterfront. Less than a two-minute walk to the Brighton Conference Centre. 10-15 minute walk to Brighton Pier and the mainline train station. 31 | Dalata HY 2020 Results
GLOSSARY
Pre IFRS 16 numbers and KPIs calculated thereon are prepared using the previous
Pre IFRS 16 accounting treatment for leases (IAS 17) and are disclosed to provide more clarity to the
numbers reader on how the Group has performed in comparison with previous periods before the
application of IFRS 16 Leases.
EBITDA adjusted to show the underlying operating performance of the Group and excludes
Adjusted EBITDA items which are not reflective of normal trading activities or distort comparability either
‘period on period’ or with other similar businesses.
Adjusted basic
(Loss)/earnings per share excluding the tax adjusted effects of the adjusting items referred
(loss)/earnings per
to above.
share
Net Debt Loans and borrowings (gross of unamortised debt costs) less cash and cash equivalents.
Net Debt to
Net Debt and Lease liabilities divided by Adjusted EBITDA for a 12 month period.
Adjusted EBITDA
Net Debt to
Adjusted EBITDA Net Debt divided by Adjusted EBITDA for a 12 month period and after deducting fixed rent.
pre IFRS 16
Free Cash Flow Net cash from operating activities (after tax), less amounts paid for interest, finance costs
and refurbishment capital expenditure. Following the adoption of IFRS 16, fixed rent is also
deducted.
‘Like for Like’ ‘Like for Like’ hotels include the half year performance of all hotels regardless of when
hotels acquired.
32 | Dalata HY 2020 ResultsHOTEL PORTFOLIO AT SEPTEMBER 2020
29 owned hotels 12 leased hotels 13 new hotels 3 management
with 6,229 with 2,726 in pipeline 3,290 agreements with
rooms rooms rooms 256 rooms
Clayton Hotel Portfolio in Ireland Maldron Hotel Portfolio in Ireland Pipeline
Owned Hotels / Freehold Equivalent Owned Hotels / Freehold Equivalent Owned
Hotel Rooms Hotel Rooms Maldron Hotel Shoreditch, London 149
Clayton Hotel Dublin Airport 608 Maldron Hotel Newlands Cross, Dublin 297 Maldron Hotel Merrion Road, Dublin 140
Clayton Hotel Leopardstown, Dublin 357 Maldron Hotel Parnell Square, Dublin 182 Extension at Clayton Hotel Cardiff Lane, Dublin 88
Clayton Hotel Liffey Valley, Dublin (1) 346 Leased
Maldron Hotel Sandy Road, Galway 165
Clayton Hotel Ballsbridge, Dublin 335 Clayton Hotel Manchester City 329
Maldron Hotel South Mall, Cork City 163
Clayton Hotel Cardiff Lane, Dublin (2) 304 Maldron Hotel Birmingham 325
Maldron Hotel Limerick 142
Clayton Hotel Cork City (3) 201 Clayton Hotel Glasgow 303
Clayton Hotel Galway 195 Maldron Hotel Kevin Street, Dublin 137
Maldron Hotel Glasgow 300
Clayton Hotel Sligo 162 Maldron Hotel Pearse Street, Dublin 119
Maldron Hotel Manchester 278
Clayton Whites Hotel, Wexford 160 Maldron Hotel Wexford 108 Maldron Hotel Liverpool 260
Clayton Hotel Limerick 158 Maldron Hotel Shandon, Cork City 101 Clayton Hotel Bristol 255
Clayton Hotel Silver Springs, Cork 109 Maldron Hotel Portlaoise 90 Maldron Hotel Brighton 221
Leased hotels Leased hotels The Samuel, Dublin 204
Clayton Hotel Burlington Road, Dublin 502 Maldron Hotel Dublin Airport 251 Maldron Hotel Croke Park, Dublin 200
Ballsbridge Hotel, Dublin 400 Maldron Hotel Tallaght, Dublin 119 Maldron Hotel Victoria, Manchester 186
The Gibson Hotel, Dublin 252 Maldron Hotel Oranmore Galway 113 Extension at Clayton Hotel Birmingham 44
Clayton Hotel Charlemont, Dublin 187 Maldron Hotel Smithfield, Dublin 92 Extension at Clayton Hotel Cambridge 5
Total Clayton rooms in Ireland 4,276 Total Maldron rooms in Ireland 2,079 Extension at Clayton Hotel Charlemont, Dublin 3
Total pipeline rooms 3,290
UK Hotel Portfolio
(1) Remaining 15 rooms owned by third parties Owned Hotels / Freehold Equivalent
(2) Dalata own 257 rooms and lease 47 rooms Hotel Rooms
(3) Dalata own 194 rooms and lease 7 apartments Clayton Hotel Manchester Airport (4) 365
(4) Effective ownership of hotel on 99 year lease Clayton Hotel Leeds 334
Maldron Hotel Belfast City 237
Clayton Hotel Chiswick, London 227
Clayton Hotel City of London 212
Clayton Hotel Belfast 170
Clayton Crown Hotel, London 152
Maldron Hotel Derry 93
Leased hotels
Maldron Hotel Newcastle 265
Clayton Hotel Cardiff, Wales 216
Clayton Hotel Birmingham 174
Clayton Hotel Cambridge 155
Total UK rooms 2,600
33 | Dalata HY 2020 ResultsYou can also read
