Dalata responds to reports about €150m equity fundraising

Hotel group Dalata has responded to reports that it plans to raise a further €150 million to buy more hotels.

In a statement to the Irish Stock Exchange, the company said it noted the weekend press speculation around a potential equity fundraising.

“The board confirms that it keeps all forms of financing under review and will update the market as appropriate,” it added.

Dalata, which raised €256 million in equity in an IPO last year, has a portfolio of 46 hotels, half of which are located in Dublin.

Some 16 of the hotels are owned outright by Dalata, 12 hotels under lease agreements and 17 under management agreements.

The company is currently investing €27 million in the redevelopment and upgrade of both its Clayton and Maldron Hotels.

As part of this, 10 of its recent acquisitions will be rebranded as Clayton hotels, including the former Bewley’s hotels in Ballsbridge and at Dublin airport.