Dalata snaps up Belfast Holiday Inn

Dalata snaps up Belfast Holiday Inn

 

The burgeoning Dalata Hotel Group has made good on promises to enter the Belfast hotel market by acquiring the four-star Holiday Inn at Ormeau Avenue for £18.5m.

The move comes on the back of an increase in both profit and turnover for the Dublin-based operator. Its revenue for the year to end December 31 2014 increased to £56.5m from £43.4m. Pre-tax profit was also significantly up to £3m from £52,270.

Dalata will add the Holiday Inn to its existing portfolio in Northern Ireland, which features the Maldron Derry (the former Tower Hotel) and the Maldron Belfast, which is located at Belfast International Airport.

Speaking recently, chief executive Pat McCann said that the company had performed “very strongly” in 2014, with revenue growth at every one of its outlets.

“We have benefited from the continued strong growth of the Dublin market and the start of recovery in the cities and towns outside of Dublin,” he added. “Following our IPO in March last year, we have invested the full proceeds 12 months ahead of schedule.

“We are very excited by the opportunities presented by the portfolio we have assembled and the process of integrating the new hotels into the Dalata structure is well underway. The outlook is encouraging for the markets we operate within. However, the recovery in provincial Ireland is still fragile and I welcome the continued support of the government for the tourist industry.”