Dalata Hotel Group, which owns the Maldron and Clayton hotels, has reported a 68% reduction in revenue leading to a loss after tax of €101m for the year to the end of December, which it described as an unprecedented year of challenge for the industry. The hotel group said its revenue for the year sank by 68% to €136.8m from €429.2m in 2019, while its loss after tax came to €100.7m compared to profits of 78.2m in 2019 - a change of 228.7%. It reported an occupancy rate of 30.9% for the year, down from a rate of 82.6% in 2019. Meanwhile its average room rate fell by 21.5% to €88.77 from €113.14 and Revenue Per Available Room (RevPAR) sank to €27.45 from €93.43.
Dalata Hotel Group also said today its chief executive Pat McCann plans to step down from the role. Mr McCann has been CEO of the company since 2007. Dalata said that Dermot Crowley, currently the company's Deputy CEO, will become the company's new CEO. John Hennessy, Dalata's Chairman, said that Pat McCann has been instrumental in growing Dalata, and its Clayton and Maldron brands, into a leading player in the hotel sector in Ireland and the UK. "Having founded the business in 2007, he has successfully transformed Dalata, creating a listed business comprising 44 hotels, 9261 bedrooms and a pipeline of 13 new hotels with 3300 rooms," he added. Mr Hennessy also said that the Dalata Board is confident that Dermot Crowley is the right person to lead Dalata in the period ahead. "He has a proven track record, having played a key role in the development of the business since 2012. Dermot started working with Pat over 20 years ago. He has a clear commitment to continue to grow the business and to maintain the wonderful culture that exists in Dalata today," he added. Comments are closed.
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