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Dalata Hotel Group PLC (DAL,DHG)
Dalata Hotel Group PLC: AGM-AGM Statement
25-Apr-2024 / 07:00 GMT/BST
2024 AGM Statement

Reflecting on Dalata's success and growth in the 10 years since IPO

ISE: DHG LSE: DAL

Dublin and London | 25 April 2024: Dalata Hotel Group plc ('Dalata' or the 'Group'), the largest hotel operator in
Ireland, with a growing presence in the United Kingdom and Continental Europe, is holding its Annual General Meeting
("AGM") today at 11:30 am BST at Clayton Hotel Cardiff Lane, Sir John Rogerson's Quay, Docklands, Dublin. Shareholders
are welcome to attend the meeting in person or participate in the AGM electronically using the link below.

At the AGM, John Hennessy, Chair of Dalata, will make the following statement:
"In March this year we celebrated ten years since Dalata's flotation on the stock exchange. Reaching this milestone
encourages us to reflect on the strong progress and growth we have achieved during that time. In the year prior to
flotation, the Group's revenue was just over EUR60 million with hotel assets of EUR5 million. Ten years on, Dalata has
become the leading hotel operator in Ireland and has significantly expanded its footprint, with 53 hotels across
Ireland, the UK and Continental Europe, delivering over EUR600 million revenue in 2023 with hotels assets of EUR1.7 billion
at the end of last year. We remain committed to our belief that hospitality is all about people and Dalata's success
would not have been possible without the dedication and talent of our people who continue to deliver for our customers,
our shareholders, and our other stakeholders.
2023 marked another record performance for the Group in terms of revenue and free cashflow generation together with
strong execution of our growth strategy. We added a hotel in Amsterdam, two hotels in London and secured a building
conversion opportunity in Edinburgh, representing three very commercially attractive cities in our target markets. We
have embraced a culture of innovation in our determination to increase efficiency and sustainability across our
business. In 2023, we successfully protected margins despite the cost inflationary environment and reduced carbon
emissions per room sold whilst maintaining strong customer and employee feedback scores.
2024 has commenced with good performance for our UK portfolio which is expected to achieve modest RevPARi growth on
January to April 2023. We also continue to see healthy levels of corporate demand across all regions. As reported
during our full year results in February, there has been lower levels of trade in Ireland. While the Dublin market
continues to digest the impact of new supply, trade improved during March compared to January and February. The timing
and nature of events compared to 2023 (such as the visit of US President in April 2023) in addition to the increased
VAT rate from September 2023 has had an impact during the first four months. RevPAR[i] for the Group is expected to be
4% behind 2023 for the period of January to April on a 'like for like' basis. As we look ahead, we remain optimistic in
our outlook for the remainder of the year where trade typically is driven by stronger seasonal factors, supported by a
strong events calendar, flight schedules and forward bookings for May and June. We also look forward to the greater
contribution from the ten hotels added to the portfolio since 2022 as they mature and the additional contribution from
the four new hotels opening this year.
Earlier this week we launched our refreshed Clayton and Maldron brands. Our new brands reflect our commitment to
delivering value while fostering meaningful connections with our people and customers and provide an exciting platform
for continued growth. We are also excited that this year will see the opening of four new Maldron hotels across the UK,
all centrally located in our target cities of Liverpool, Brighton, Manchester and London. The Group has considerable
firepower available for further growth in line with our ambitious and disciplined growth strategy. We remain focussed
on growing in 11 key cities in the UK and establishing a presence in targeted large European cities with a strong mix
of corporate and leisure demand.
I feel a great sense of pride as I reflect on the growth, performance and operational enhancements we have achieved as
a Group over the past ten years. The business continues to be extremely well served today, by talented and experienced
people who embody the Dalata culture and vision, which together with our financial strength, positions us well as we
look to the future, respond to challenges and take advantage of opportunities as they arise."
AGM details
Shareholders can access the AGM, ask questions and vote, via a virtual meeting platform. This can be done by accessing
the meeting website at meetnow.global/DHGIAGM2024 on the date appointed for the AGM. The results of the resolutions
relating to the AGM will be published later today. Further information relating to the AGM is published on the
Company's website at https://dalatahotelgroup.com/investor-relations/shareholder-centre/
-ENDS-


About Dalata
Dalata Hotel Group plc is a leading hotel operator backed by EUR1.7bn in freehold and long leasehold assets in Ireland
and the UK. Established in 2007, Dalata has become Ireland's largest hotel operator with an ambitious growth strategy
to expand its portfolio further in excellent locations in select, large cities in the UK and Continental Europe. The
Group's portfolio comprises 53 primarily four-star hotels operating through its two main brands, Clayton and Maldron
Hotels, with 11,413 rooms and a pipeline of over 1,500 rooms. For the year ended 31 December 2023, Dalata reported
revenue of EUR607.7 million, basic earnings per share of 40.4 cent and Free Cashflow per Share of 59.7 cent. Dalata is
listed on the Main Market of Euronext Dublin (DHG) and the London Stock Exchange (DAL). For further information visit:
www.dalatahotelgroup.com

Contacts
Dalata Hotel Group plc investorrelations@dalatahotelgroup.com Dermot Crowley, CEO Tel +353 1 206 9400
Carol Phelan, CFO
Sean McKeon, Company Secretary and Head of Risk and Compliance
Niamh Carr, Head of Investor Relations

Joint Group Brokers

Davy: Anthony Farrell                      Tel +353 1 679 6363 
Berenberg: Ben Wright                      Tel +44 20 3753 3069 

Investor Relations and PR | FTI Consulting Tel +353 86 401 5250
Melanie Farrell dalata@fticonsulting.com
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Note on forward-looking information

This Announcement contains forward-looking statements, which are subject to risks and uncertainties because they relate to expectations, beliefs, projections, future plans and strategies, anticipated events or trends, and similar expressions concerning matters that are not historical facts. Such forward-looking statements involve known and unknown risks, uncertainties and other factors, which may cause the actual results, performance or achievements of the Group or the industry in which it operates, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. The forward-looking statements referred to in this paragraph speak only as at the date of this Announcement. The Group will not undertake any obligation to release publicly any revision or updates to these forward-looking statements to reflect future events, circumstances, unanticipated events, new information or otherwise except as required by law or by any appropriate regulatory authority.

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[i] 'Like for like' RevPAR excludes hotels added to the portfolio during 2023.

----------------------------------------------------------------------------------------------------------------------- Dissemination of a Regulatory Announcement, transmitted by EQS Group. The issuer is solely responsible for the content of this announcement.

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ISIN:           IE00BJMZDW83, IE00BJMZDW83 
Category Code:  AGM 
TIDM:           DAL,DHG 
LEI Code:       635400L2CWET7ONOBJ04 

OAM Categories: 3.1. Additional regulated information required to be disclosed under the laws of a Member State

Sequence No.:   317747 
EQS News ID:    1888741 

End of Announcement EQS News Service

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END) Dow Jones Newswires

April 25, 2024 02:00 ET (06:00 GMT)