Business in Recovery with Ambitious Growth Objectives.
Dalata Hotel Group plc (‘Dalata’ or the ‘Group’), the largest hotel operator in Ireland, with a growing presence in the United Kingdom and Continental Europe, announces its results for the year ended 31 December 2021.
A Tale of Two Halves: Strong Operating Performance as Pandemic Recedes:
Continue to Focus on Creating Long-Term Value
Trade at the start of 2022 was disrupted by restrictions following the emergence of the Omicron Covid-19 variant. However, January and February are traditionally our quietest months. Virtually all restrictions in Ireland and the UK were removed at the end of January which resulted in a rise in bookings, with ‘like for like’ Group occupancy1 increasing from 38% in January to 62% in February. ‘Like for like’ Group RevPAR1 for February expected to be 91% of the level achieved in 2019.
As we look forward, and in the absence of any further material Covid-19 restrictions, we remain optimistic about the ongoing recovery of the business. There has been significant pent-up demand for travel following the easing of restrictions, and due to a combination of a more benign evolution of the Covid-19 virus and high levels of vaccination, we expect this to continue. As more and more companies return to their physical offices, we expect this to be a catalyst for increased domestic corporate travel and the return of international corporate travel and conferences. The indication of the return of airline capacity and strong calendar of events is also promising.