Dalata, a growing Irish chain of hotels, expands actively and adds more properties to its fast growing portfolio. The hotelier has just acquired a whole portfolio consisting of nine hotels (2,506 guestrooms in total). Another UK hotel company, Moran Bewley’s Hotel Group, was purchased by Dalata for 455 million euro (US$567 million). The transaction has become possible thanks to proceeds got from initial public offering. It is reported that the sum will be paid in cash and 10% of shares of the Irish hotelier. Moran Bewley’s Group is known to be in tough situation, so Dalata will also have to pay Bewley’s debt of 280 million euro (US$349 million).
The hotel portfolio of the Moran family consists of 10 hotels, but it will retain one property the Red Cow Moran hotel in Dublin. To get it back, the Morans will pay to Dalata approximately 8 million euro (US$10 million). Other nine hotels will be rebranded by Dalata. It is reported that hotels in London, Dublin, Manchester, Leeds and Cork will be operating under the Maldron brand. The acquisition of Moran Bewley’s Hotel Group will increase the portfolio of Dalata to almost 50 hotels.