Dalata Hotel Group bounced back to profitability in 2022 and predicted a significant improvement in revpar (revenue per available room) for the first two months of 2023 compared to 2019 levels.
For 2022, the operator of the Maldron and Clayton Hotels posted pre-tax profit of €109.7 million, swinging from a loss of €11.4 million the year before. This was as revenue rocketed to €558.3 million from 2021’s €192 million.
Revpar rose to €102.23, up from €40.02 in 2021 and €93.43 in 2019. However, occupancy still lagged behind 2019’s 82.6% at 75.8 per cent.
Looking ahead, Dalata said it expects revpar for January/February 2023 to be 27% of 2019 levels in the UK, 17% ahead in Dublin and 54 per cent ahead in regional Ireland.
“The group remains cautiously optimistic on its outlook for 2023. Engagement with corporate customers and tour operators on demand and pricing has been positive. There are also positive demand indicators in Ireland and the UK, including on the resumption of more normalised conference and events business levels and the continuing return of international travellers, in particular from the US market,” the company said.
“We remain confident in our ability to outperform with our modern hotel portfolio, our focus on sustainability, our decentralised operating model and our track record of providing a superior guest experience. As we look ahead, Dalata’s robust balance sheet, financial resources, pipeline of talented people and excellent reputation position us strongly for further growth,” added Dalata’s chief executive officer Dermot Crowley.
Dalata added 1,900 rooms in 2022 over six hotels and currently has a further 1,333 rooms in the pipeline. The number of hotels in its portfolio now totals 50.
As at the end of 20202, the group had cash and undrawn committed debt facilities of €455.7 million.