Dalata Hotel Group has agreed to sell Clayton Crown Hotel, London, and the underlying business, to a company controlled by AG Hotels Group for around £21 million.
The transfer of the business is scheduled to complete by late June 2022.
Ireland’s largest hotel operator has a growing presence in the UK but deemed the Cricklewood asset non-core as it focuses more on central locations.
The Clayton Crown Hotel joined Dalata’s portfolio as part of the acquisition of Moran Bewley’s Hotel Group for €455 million in 2015.
The Clayton branding is not included as part of the arrangement and on completion of the contracts, the hotel will no longer have any contractual relationship with Dalata.
What they Said
Dermot Crowley, CEO, Dalata said: “This Transaction represents excellent value and will assist us in our continued focus on securing central opportunities in attractive cities of the UK and continental Europe. London continues to be a priority for Dalata, and we look forward to opening our new hotel in Shoreditch in the second half of 2023.”