Dalata Hotel Group Reports H1 2024 Results with Revenue Growth

Dalata Hotel Group PLC has announced its financial results for the first half of 2024, showcasing a 6% increase in revenue to €302.3 million compared to the same period in 2023. Adjusted EBITDA rose by 4% to €107.6 million. Despite these improvements, profit after tax dropped by 15% to €35.8 million.

The company also introduced a €30 million share buy-back initiative and reported a 2.5% increase in its interim dividend. New executive appointments were made, with Shane Casserly named Deputy Chief Executive and Des McCann set to join the Board effective January 2025.

Key performance indicators showed a slight decline in occupancy to 77.6% and a 1% decrease in 'like for like' RevPAR. Nevertheless, Dalata maintained high employee engagement scores and strong customer satisfaction levels.

Looking ahead, the group plans to expand with an estimated 6,500+ additional rooms in the medium term, focusing on the UK and large European cities while maintaining its market share in Ireland.