Dalata Hotel Group has completed the sale of its Clayton Whites Hotel Wexford to Neville Hotels for €21m.

Ireland's largest hotels group has a portfolio of 55 owned and leased hotels with 11,990 rooms across its Clayton and Maldron brands, and a pipeline for a further 870 rooms.

Dalata reported revenue of €302m, basic earnings per share of 16 cent and free cashflow per share of 21.5 cent in the first half of the 2024.

The group last month described H2 trading as "robust" and projected annual growth of 4% and EBITDA of more than €232m for the full financial year.

Revenue per available room (RevPAR) is expected to be c. 3.5% ahead of 2023 for November/December, with strong performances in Dublin and the UK. For the full year, group RevPAR is on track to be 1% ahead of 2023.

The Dublin and London-listed company has €1.7bn in hotels assets, primarily in Ireland and the UK and has plans for further expansion in Britain and continental Europe.

The sale of the Clayton Whites Hotel Wexford was first announced in November, and followed Dalata's sale of the Maldron Hotel in Wexford to Neville Park Hotel Group for an undisclosed sum.

Neville Hotels is owned by Wexford man Seamus Neville and owns the Ravenport Hotel in Wexford, Druids Glen in Wicklow and the Royal Marine in Dublin.

"The hotel has a strong management team in place and a proven track record of strong performance, providing me with confidence that it will continue to excel as part of Neville Hotels," said Dermot Crowley, CEO of Dalata, in November.

"Our focus now is to ensure a smooth and positive transition, providing support to our colleagues throughout this period of change."

Therese Kelly, director of Neville Hotels said at the time that the acquisition of the group's sixth hotel would complement its new property in Curracloe, The Ravenport Resort, very well.

(Pic: Google Maps)