The owner of the Clayton and Maldron hotel chains on Thursday announced it may be put up for sale.
Dalata Plc, the Irish hotel group, told investors on the London Stock Exchange that its vision to grow by 80% by the end of the decade requires investment, but the price of its shares currently undervalue the group.
Right now, Dalata operates 55 hotels under the Clayton and Maldron brands following its expansion with new sites in Ireland and the UK in recent years, but, it is planning to increase the hotel portfolio to reach 21,000 rooms by 2030.
John Hennessy, chair of Dalata, said the company would consider options to improve its access to capital to support these growth plans. A strategic review of the business has now begun, though Dalata said this could lead to a full sale of the stock market-listed company.
“During the process we will remain focused on the underlying business – continuing to take care of our people and continuing to meet the expectations of our customers,” chief executive Dermot Crowley added.
