Dalata Hotel Group PLC has released its 2023 Half Year Report, showcasing strong growth and performance. In the first half of 2023, the company saw a 24% increase in adjusted EBITDA to €103 million, with hotel revenue growing by 29% to €284.8 million. The Group's key performance indicators also showed positive results, with a 23% increase in 'like for like' RevPAR and a 10% increase in average room rate.
Dalata Hotel Group continues to deliver on its ambitious growth strategy, with a growing asset portfolio and the addition of two London owned hotels, adding 280 rooms to its UK portfolio. The company also has three further leased hotels under construction in key UK cities, expected to open in Q2 2024. The Group's Acquisitions and Development team is focused on securing opportunities in prime city locations in the UK and continental Europe.
The company is committed to creating long-term shareholder value while maintaining financial discipline. It has seen €0.5 billion of property value growth since its IPO and has a low gearing position, providing balance sheet strength and the ability to drive growth through opportunistic acquisitions. The Group's leased hotel portfolio has delivered strong financial performance, with an EBITDA (after rent) of €17.5 million in H1 2023.
Dalata Hotel Group also emphasizes its investment in its people, with a focus on employee development and promotion opportunities. The company has launched the Dalata Employer Brand to position itself as an employer of choice in its markets and has received recognition for its commitment to diversity and inclusion.
Sustainability is a key focus for the Group, with a commitment to reducing carbon emissions and engaging in the Science Based Targets initiative. The company has achieved a 24% reduction in Scope 1 & 2 carbon emissions per room sold in H1 2023 compared to H1 2019. It is actively engaged in the SBTi draft guidance consultation process and aims to commit to SBTi Building Sector targets.
Looking ahead, Dalata Hotel Group is optimistic about its future growth prospects. The Group's 'like for like' RevPAR is expected to continue to increase, with positive performance in Dublin, Regional Ireland, and the UK. Recent hotel additions, including Clayton Hotel London Wall and Maldron Hotel Finsbury Park, have performed well under Dalata brands.