THE company behind Belfast's latest hotel has reported a massive 75 per cent jump in pre-tax profits to €77.3 million (£68.3m).
The Dalata Group, which is behind the new 237-bed Maldron Hotel on Brunswick Street, has reported a stellar financial year in its annual results, with revenue, profits and occupancy all increasing in 2017.
Turnover grew 20 per cent from €290.6m (£256.6m) to €348.5m (£307.7m), while profit before tax surged from €44.1m (£38.9m) to €77.3m (£68.3) at the end of December. Room occupancy also grew marginally from 82.1 per cent to 82.3 per cent across the group's hotel portfolio, which includes The Maldron Hotels at the Belfast International Airport and Derry, as well as the Clayton Hotel on Ormeau Avenue in Belfast.
Pat McCann, Dalata Group CEO, said he was delighted with the progress made by the company in 2017 and said he was particularly with the performance in the UK market.
"The team at Dalata have delivered another year of strong earnings growth and met our target to announce 1,200 new rooms per year," he said
"2015, 2016 and 2017 were busy years at Dalata and 2018 will be no different. I am really excited about the pipeline of hotels that we are opening in 2018."
"Our development team are actively looking for new sites located in our twenty target cities across the United Kingdom. I am very excited about the quantity and quality of opportunities that are coming our way at present," Mr McCann added.
The new Maldron Hotel in Belfast will open on Tuesday March 13, providing jobs for 110 people, while the company has also just completed a £1.5 refurbishment of its Clayton Hotel property on Ormeau Avenue.
The Dalata Group is Ireland's largest hotel operator with a growing presence in the United Kingdom. The Group’s current portfolio consists of 38 hotels with over 7,600 rooms, with an additional 2,234 rooms currently being developed. Dalata successfully operates Ireland's two largest hotel brands, Clayton Hotels and Maldron Hotels across Ireland and the UK, as well as managing a small portfolio of partner properties.
