Dalata Hotel Group plc announces the acquisition of CG Hotels Dublin Airport Limited, the holder of the long-term lease for Radisson Hotel Dublin Airport, a four-star property that will soon be rebranded under the Clayton Hotel brand. This strategic transaction, valued at €83 million, is pending final regulatory approvals and the satisfaction of certain contractual conditions.
Located on a 4.4 acres site in close proximity to Dublin Airport’s Terminal 2, this four-star hotel features 229 rooms, extensive meeting and event facilities, a bar, a restaurant, and on-site parking.
In 2023, the hotel generated an EBITDA of €6.5 million (excluding franchise fees and management fees), with consolidated assets also amounting to €83 million at the end of the year. Following a major renovation in 2019, the hotel will require only limited investment before being rebranded as a Clayton Hotel once the acquisition is completed, which is expected in the first half of 2025.
A Strategic Acquisition in a Key Market
The group, which has a strong presence in Ireland, is expanding rapidly in the UK and Europe. Dublin remains a priority growth market for Dalata, enabling the group to strengthen its position in the airport area. With the operating license for the Maldron Hotel Dublin Airport set to expire in January 2026, this acquisition ensures Dalata a long-term foothold in this strategic sector.
Dalata will finance the transaction using its existing cash and credit facilities. With two significant planning approvals in place, the hotel also offers further development potential in the medium term, enhancing its attractiveness.
"The acquisition of this hotel represents a major opportunity to secure a revenue-generating property in a prime location. This hotel is ideally positioned to provide hospitality services to Dublin Airport passengers and the greater north Dublin community, thus supporting both the local and national economy. The hotel perfectly aligns with our investment criteria and offers us a very attractive opportunity to invest and further develop the overall site, providing higher returns on investment in the long term. Our advisors are ready to engage with the CCPC immediately, and subject to their approval, we look forward to welcoming this hotel and our new colleagues into Dalata in the first half of 2025." - Shane Casserly, Deputy CEO of Dalata Hotel Group
"This acquisition is an exceptional opportunity in a dynamic hotel market. We will continue to prioritize disciplined growth, capital efficiency, and financial strength while delivering returns to our shareholders." - Dermot Crowley, CEO of Dalata Hotel Group
"Radisson Blu Dublin Airport has been successfully managed by Windward Management for many years, and we would like to acknowledge the ongoing commitment of the management and staff in delivering top-level performance and exemplary customer service. Their work has created a solid foundation that will undoubtedly benefit the future stakeholders of the property. The completion of this transaction is subject to regulatory approval, a process that may take several months. During this period, the commitment of all involved is greatly appreciated to ensure a seamless transition." - Patrick Coyle, Chairman of Windward Asset Management
