Dalata Hotel Group has purchased the entire issued share capital of CG Hotels Dublin Airport Ltd, which holds the long leasehold interest in The Radisson Hotel Dublin Airport, for €83 million.
Located at Dublin Airport and situated on 4.4 acres, the 4-star hotel - which underwent a refurbishment programme in 2023 - comprises 229 bedrooms, meeting and event facilities, a bar, a restaurant and on-site parking.
In 2023, the hotel had Ebitda pre-franchise fees and management fees of around €6.5 million, with consolidated gross assets of €83 million at December 2023. The remaining tenure of the leasehold is 107 years.
Dalata notes that Dublin remains a strategic growth market for Dalata, adding that with the Maldron Hotel Dublin Airport operating licence due to expire in January 2026, this transaction represents a very attractive opportunity for the group.
Upon completion of the transaction, expected in H1 2025, the hotel will be rebranded as a Clayton hotel. Dalata says the purchase will be financed from its existing cash and banking facilities.
What they said
Shane Casserly, deputy CEO of Dalata Hotel Group said: “The acquisition of this hotel is a compelling opportunity to secure a strong revenue generating hotel in an excellent location. The hotel aligns with our investment criteria and offers us the very attractive opportunity to invest and further develop the hotel offering on the overall site, delivering greater investment returns into the future.”
Dermot Crowley, CEO of Dalata Hotel Group added: “This acquisition is an exceptional opportunity in a vibrant hotel market. We will continue to balance disciplined growth, capital efficiency and financial strength with returns to shareholders”.