Dalata Hotel Group to acquire Radisson Blue at Dublin Airport
Pany's Casserly, Dermot Shane Dalata Chief Deputy With Crowley Executive Chief Hotel Group Executive Of The
Ireland’s largest hotel operator Dalata Hotel Group has announced the acquisition of the Radisson Hotel Dublin Airport for €83m subject to regulatory approval.
The existing four-star hotel is located on 4.4 acres of land at Dublin Airport. It consists of 229 bedrooms as well as meeting and event facilities, among other amenities.
The current hotel reported earnings before deductions as well as franchise and management fees of €6.5m in 2023.
The company said this new transaction represented a very attractive opportunity for the group to secure a well invested four-star hotel, in close proximity to Terminal 2 in Dublin Airport. Dalata said the hotel requires limited initial investment as it underwent a refurbishment in 2019.
Once the acquisition is complete, the hotel will be rebranded as a Clayton Hotel. The remaining tenure of the leasehold is 107 years.
The hotel also has two significant planning approvals, offering development opportunities into the future.
The transaction is scheduled to close in the first half of next year subject to approval by the competition authority.
Dalata said its current location at Dublin Airport, the Maldron Hotel, was due to have its operating licence expire in 2026.
Dalata deputy chief executive Shane Casserly said the acquisition of the hotel was a “compelling opportunity to secure a strong revenue-generating hotel, in an excellent location”.
“The hotel aligns with our investment criteria and offers us the very attractive opportunity to invest and further develop the hotel offering on the overall site, delivering greater investment returns into the future.”
The vendor is a related party of Emerald Investment, while the hotel is operated by Windward Management.
Windward Asset Management chairman Patrick Coyle commended the work of management and staff at the hotel, which has created “a strong foundation that will undoubtedly benefit the property’s future stakeholders”.
The transaction will be paid through Dalata’s existing cash and banking facility.
Dalata currently either owns or leases 57 hotels across the country, operating through its two brands Clayton and Maldron. In total, it has 12,258 rooms and a pipeline of more than 700 rooms to come.
During the first half of the year, Dalata reported revenue of €302m.