DUBLIN (Reuters) – Ireland’s largest hotel operator, Dalata Hotel Group, said on Wednesday that it is cautiously optimistic about the outlook for 2023 and is not seeing any slowdown in bookings to date from a cost of living crunch.
Tourism has rebounded in Ireland this year following the COVID-19 pandemic, although the number of people travelling to the country remains below pre-pandemic levels with arrivals in October down 5.4% on the same month in 2019.
Maldron and Clayton brand operator Dalata said in a trading update that it expected its annual revenue to exceed 500 million euros ($531 million) for the first time in 2022 after a strong recovery in trade continued into the second half of the year.
It added that adjusted full-year core profit is expected to exceed 182 million euros, up at least 12% year-on-year after RevPAR – a key measure of a hotel’s top-line performance – was 21% ahead of 2019 levels from September to November.
The strong post-summer performance was attributed to a pick-up in corporate bookings, continued strong leisure demand and a notable increase in North American visitors supported by the favourable exchange rate.
Dalata, which also operates 17 hotels in the UK and plans to add four more in the next 18 months, said there are positive demand indicators in both its main markets for 2023, including the resumption of more normalised conference business levels.
($1 = 0.9409 euros)
(Reporting by Padraic Halpin; editing by David Evans)
