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A potential guesthouse in Newtown Donore, Co. Kildare, has hit the market via Byrne Malone Estate Agents.

General Details

The property’s listing on property.ie states, “Byrne Malone Estate Agents are delighted to present to the market Beech Grove, a stunning style family home set in a great location in Newtown, Donore, just a few minutes from the village of Caragh and another few minutes further to Naas or Clane. This substantial country residence would make for an ideal guesthouse or B&B and is in excellent condition throughout and is set in a beautiful site with views of the surrounding countryside. Built in 2009 by the current owner, it was ahead of the curve at the time and still is in terms of design, layout and location and building energy planning with a B3 BER cert.

“The property extends to c.617 sq. m./6641sq. ft. with detailed design and spacious living areas on a site of approximately one acre with a further four acres making the most of this private and beautiful location.

“Beech Grove boasts bright and spacious accommodation with innovative design making an ideal family home. The property comes with an attractive classic driveway, lawns and tree lined mature gardens, as well as dual aspect living accommodation, patio area and outbuildings.”

Interior And Exterior Details

The listing continues, “The property interior comprises of spacious double height entrance hall leading to four reception rooms comprised of dining room, sun room, TV lounge and living room, as well as large kitchen and a spacious utility room with WC. All of the ground floor areas have detailed maple wood flooring with oak inlays that really set the tone for the quality of craftmanship and build throughout this property. Also, on the ground floor are five large bedrooms, of which three are en-suite and a family bathroom. Moving upstairs, there are seven large double bedrooms, of which five are en-suite. There is a further family bathroom on this floor as well. All rooms have unspoilt views over the surrounding countryside.

“This amazing and unique property is set on a large site of c.41 hectares/one acre and also has an adjoining 1.61 hectares/four acres making this the perfect property for those with space in mind, whether for country walks or indeed equine hobbies.”

Location Details

The listing adds, “Beech Grove House is ideally located 10 minutes from the towns of Clane or Naas and is only 10 minutes to Sallins train station with both intercity and commuter trains to Heuston and Pearse Street.

“For the fishing and sporting enthusiast the Grand Canal is 800 meters from this property and The Curragh Racecourse, Punchestown and Naas races courses are all within driving distance.

“This location has great motorway access for a quick and easy commute to Dublin with the M7 motorway junction 9A or 10 just 10 minutes away.

“The towns of Naas, Newbridge and Clane are all circa 10 to 15 minutes away, offering an excellent array of shopping, recreational and educational facilities. Naas offers such retailers as Tescos, Boots, Argos, Lidl, Aldi, Smyths, Woodies, Currys, PC World, Harvey Normans, B&Q, Powercity and Newbridge has the benefit of Whitewater Shopping Centre, Penneys, Dunnes, Tescos, Newbridge Silverware, TK Maxx, cinemas and restaurants to name a few.”
 

 

Original article by Dave Simpson on hospitalityireland.com

Gerardo Larios Rizo, Head of Hospitality sector at Bank of Ireland, describes the financial supports available to hospitality businesses

Hospitality businesses across Ireland are finally welcoming back customers to their premises after a third (and hopefully final) lockdown that lasted over five months. The mandated closures were tough both mentally and financially for business owners and although some restrictions will still still linger for a while longer, hospitality businesses are optimistic about the future. Demand will be mostly driven by Irish customers until September, when many expect that overseas tourism could possibly begin to return.We anticipate this summer will be one of “two halves,” with a soft performance expected for or the traditionally strong Dublin region, while much stronger demand demand is is anticipated at a regional level. The return of overseas visitors, as well as entertainment and and sporting sporting events, will eventually drive demand back into the capital.

Reopening a business after an extended closure is no walk in the park and it involves much more than just restocking the larders and giving your premises a spring clean. Operators must go about rehiring and retraining staff, servicing equipment, contacting customers, dressing beds, setting tables and many more activities besides. Crucially they must also pay for this at a time where there is little to no cash inflows, so most will have to make use of their cash reserves or overdraft facilities. The much debated change in consumer behaviour will add an additional level of complexity which is hard to account for. However, it is not all doom and gloom for the hospitality sector as numerous reports from Fáilte Ireland and other agencies confirm that pent-up demand is strong and so are record breaking levels of personal savings to back it up.

The journey through the pandemic presented challenges and opportunities every step of the way; the financial needs of hospitality businesses, and the solutions to address them had to evolve as well. The government was quick to react and immediately implemented not only trade restrictions to control the spread of the virus but also a number of supports for employers and employees as the pandemic took a grip on the country. The supports evolved with time, with additional supports and grants launched at different stages by a number of government agencies and bodies. Lenders rolled out the option for payment moratoriums to all businesses, and then implemented tailored solutions for individual businesses as the ability to trade, and the capacity at which they could do so, demanded flexibility. Banks are both willing and able to help businesses at whatever stage of the economic cycle they might find themselves in. However as with anything in life, timing is crucial and early engagement usually delivers best results.

 

In response to the pandemic, a number of hotels, bars and restaurants upgraded their external seating areas or adapted their products for takeaway; supports like the adaptation grant and outdoor dining scheme administered by Fáilte Ireland and the restart grant from the Department of Enterprise Trade and Employment encouraged many to make this move. During the lockdown a number of businesses who couldn’t open to the public have taken the time to do an in depth review of their operation and implemented new products and services and have also taken the time to upgrade their facilities. These projects have been primarily financed from savings, government grants and term debt from banks – including the specific Covid-19 related schemes implemented by the Strategic Banking Corporation of Ireland (SBCI); bank funding of course continues to be assessed on a case basis across all sectors. Bank of Ireland has a wide range of credit and debt facilities to support businesses as they begin their recovery path in the aftermath of Covid-19. These include working capital (overdrafts), short-term loans to address cash flow issues and Insurance Premium Finance among others; longer term finance and Government support schemes from the SBCI are also available along with access to our large network of qualified advisors. As regulated entities, banks must adhere to a well prescribed code of conduct that sets out how to manage customer requests for new or additional facilities as well as instances of financial distress. Where businesses need support with existing credit facilities, prompt engagement with the bank can deliver either temporary or long term solutions. Some of the most frequent solutions implemented for customers facing trade uncertainty or cash flow difficulties include:

• – Payment moratorium – the full loan repayment is postponed for an agreed period of time so that the borrower does not pay any capital or interest during the period of the payment moratorium
• – Interest only – borrower pays the interest on the loan as it arises, but not any capital for an agreed period of time. The loan balance will not reduce during this period
• – Fixed/reduced repayment – usually an agreed set repayment covering interest and part of the capital for an agreed period
• – Term extension – extends the expiry date of the loan thereby reducing the borrower’s repayments
• – Debt consolidation – a number of loan exposures and security may be combined or restructured into an alternative repayment arrangement.

Despite the disruption caused by Covid-19, most common sources of funding are still widely available to the sector. However enhanced due diligence may be required for some transactions as it is important to assess both the pre and post Covid-19 viability of business when evaluating a request for financial support. Bank funding continues to be assessed on a case by case basis across all sectors.

• – BUSINESS NEED: Cash flow projections showing critically low funds or hard-core use of overdraft facilities
• – POTENTIAL SOLUTION: Working capital (temporary overdraft or 3/5 year term loan facilities)
• – BUSINESS NEED: Elevator/boiler replacement, essential refurbishment, setting up outside seating area, IT investment.
• – POTENTIAL SOLUTION: Capital expenditure support (7 year term loan facilities)
• – BUSINESS NEED: Opportunity for expansion through acquisition
• – POTENTIAL SOLUTION: Long-term loan support (15 year amortisation)
• – BUSINESS NEED: Settlement of annual insurance invoice
• – POTENTIAL SOLUTION: Insurance Premium Finance (spreading cost over 6-11 months).

 

Over the last year, the Strategic Baking Corporation of Ireland (SBCI) has provided a number of schemes to support businesses impacted by Covid. These include the Covid-19 Working Capital Loan Scheme and the Covid-19 Credit Guarantee scheme; further information on these and other schemes is available on the SBCI website or through your finance provider or advisor.

Banks continuously assess and try to evaluate the impact of the opportunities and challenges faced by our customers on account of economic conditions such as Covid-19 and Brexit. The challenges presented by these events to businesses across all sectors can at times require tailored solutions. I would encourage businesses to engage early with their Bank when looking to discuss a temporary payment arrangement, seek support for a new project or discuss any other financial need arising as a consequence of the changing economic landscape or normal course of business.

At Bank of Ireland, we have been dealing with the ups and downs of the Irish economy for over 235 years providing a wide range of financial supports. We are now working hard to support customers as they emerge from the extended lockdown period and into the normalisation of trade in the near future.

*Bank of Ireland is regulated by the Central Bank of Ireland

 

Original article by the Editorial Team at hotelandcateringreview.ie

The property that housed Derry and Sallyanne Clarke’s l’Ecrivain Restaurant on Dublin’s Baggot Street Lower will become an office furniture showroom venue.

Derry and Sallyanne Clarke announced in February of 2020 that they would close l’Ecrivain in July of 2020 after 31 years of running the restaurant. They subsequently announced in May of last year that they would delay the restaurant’s closure until December of 2020.

The property was then sold earlier this year.

 

New Owners Plans

According to The Irish Times, an examination of the planning permission secured by the property’s new owners, office supplies specialist MJ Flood, shows that l’Ecrivain will be converted into “five [office furniture] showrooms”.

Attempts by The Irish Times to contact MJ Flood’s principals, John Power and Michael Power jnr, for comment on plans to locate on Lower Baggot Street were reportedly unsuccessful.

 

MJ Flood Information

As reported by The Irish Times, according to its MJ Flood, which was established in 1935, is “the largest indigenous supplier of copiers, digital technology, office furniture and interiors for the modern office environment”.

The privately owned company, which is currently headquartered in Baldonnel Business Park, reportedly employs more than 300 people and has an annual turnover of more than €120 million.

 

Original article by Dave Simpson on hospitalityireland.com

A former employee of Dublin’s Shelbourne Hotel from Co. Wicklow has been appointed as the general manager of Warsaw’s Hotel Bristol.

Hotel Bristol Statement

Hotel Bristol stated, “The legendary Hotel Bristol, a Luxury Collection Hotel, Warsaw has welcomed Aidan Dempsey as the new general manager.

“With over 20 years in the hospitality industry and considerable exposure to luxury and boutique hotel brands, Aidan brings an impressive resume of experience to Hotel Bristol, Warsaw. He comes to Poland from Dubai, where he also held the position of general manager.

“A native of Wicklow in Ireland, after graduating from Shannon College of Hotel Management with a Bachelor’s Degree in International Hotel Management, Aidan worked across all operational departments focussing his work on quality assurance, guest satisfaction, and successful upsell programmes. Throughout his time, he successfully led hotel strategies and was responsible for the remodelling and rebranding of several restaurants and bars as well as supervising general hotel renovations.”

 

Dempsey Statement

Dempsey stated, “My engagement with the wider hospitality and tourism industry as well as working with many international brands has given me the opportunity to travel the world and gain a greater knowledge and understanding of cultural differences and approaches to business.”

 

Additional Hotel Bristol Statement

Hotel Bristol added, “During his career, he had the opportunity to manage and work with many prestigious properties and brands across Europe, the US and Middle East. He held senior roles at The Shelbourne Dublin, Ireland, and The Ritz-Carlton, Dubai, just to name a few.”

 

Additional Dempsey Statement

Dempsey added, “In each new position, I focus on the development of the team; I love working with likeminded people who strive for perfection in demanding and fast-paced environments. The hotel and tourism industry has changed significantly over the last number of years, creating huge challenges for the industry however accepting the challenge and in some cases creating or growing an entrepreneurial spirit within the team always ensures great opportunities to provide satisfactory outcomes for the company, owners and the community.

“I want to invite the local community to this charming, historical landmark in the beautiful city of Warsaw where there always will be a warm Polish (and Irish) welcome that will hold a truly memorable experience for everyone.

“As we hopefully look forward to better years ahead, I am delighted to join Hotel Bristol, Warsaw at such a special time as we continue to work on many events and milestones at the property, such as the 120th anniversary celebrations of the hotel, the remodelling of the impressive hotel lobby and the unveiling of the most anticipated project – the opening of our new gin bar. I am beyond excited to now be part of this impressive heritage. We are the custodians of this iconic property and it is our responsibility to make sure that its history is protected and celebrated for many years to come while also creating authentic, memorable moments ensuring a personal, luxury experience for all who pass through the doors.”

 

Original article by Dave Simpson on hospitalityireland.com

British pub group JD Wetherspoon will open a hotel and pub venue called Keavan’s Port on Dublin’s Camden Street on August 16, following delays due the COVID-19 pandemic.

Development work on the Keavan’s Port venue began in 2018, and it was reported in December of 2020 that Wetherspoon had completed the Keavan’s Port development, that the venue would employ approximately 200 full- and part-time people and that the pub group was aiming to open it on January 15.

The opening of the venue was subsequently delayed due to COVID-19 pandemic-related business restrictions, and, as reported by The Irish Examiner, the 89-bedroom hotel and pub property is now due to open on August 16.

Keavan’s Port is reportedly the largest single-project investment in Wetherspoon’s 41-year history, costing approximately €33 million. The group purchased the site of the venue for €6 million and subsequently spent over €27 million on developing the new hotel and pub property.

The Keavan’s Port site includes eight Georgian houses, seven of which are protected structures, a chapel and a modern extension.

Expansion Plan For Ireland

The opening of Keavan’s Port will reportedly begin a planned €50 expansion in Ireland by Wetherspoon.

It was reported in early July that the group has purchased an office building on Dublin’s Aston Quay for €9 million and is planning to spend an additional €4 million on transforming it into a pub.

The report of Wetherspoon’s purchase of the Aston Quay property followed news that the group is hoping to open a new venue in Waterford on December 14, as well as earlier news that Wetherspoon is planning to open new venues in Dublin, Galway, Limerick and Waterford as part of a ramped-up Irish expansion plan, and news that Wetherspoon will invest £145 million in developing new pubs and upgrading existing pubs, creating 2,000 new jobs in the process.

The group is reportedly also developing a site on Dublin’s Hanover Quay.

Additionally, it was reported in September of 2020 that Wetherspoon is considering opening bars in Irish airports as part of its long-term expansion plans for Ireland.

Wetherspoon Founder And Chairman Statements

The Irish Examiner quotes Wetherspoon founder and chairman Tim Martin as saying, “We have enjoyed great success in the Republic of Ireland and are continually on the lookout for new sites.”

Martin has reportedly also previously said that there is scope for opening more Wetherspoon venues in Cork, where it currently owns The Linen Weaver pub on Cork city’s Paul Street.

Committed To Ireland Countrywide

The group is reportedly committed to Ireland countrywide and has ambitions to have a minimum of 30 venues operating in Ireland in the coming years.

 

 

Original article by Dave Simpson on hospitalityireland.com

Construction company BAM Ireland has been appointed as the main contractor for the construction of a mixed-use development on the site of the former IDA Ireland Small Business Centre at Newmarket Square in Dublin 8 that will include a 151-bedroom hotel.

As reported by The Irish Times, the development hotel’s will be operated by UK hospitality company Whitbread under its Premier Inn brand.

Additional Development Details

The development, which is reportedly due to be completed in 2023 and is being developed by Bain Capital-backed Carrey Issuer, will reportedly extend across 29,570 square metres (318,289 square feet), cost an estimated €100 million, and also include a café/lounge, a cinema, a gym, 413 rental apartments, multipurpose rooms, an artists’ studio, street level retail space at street level, and basement level car and bike and car parking spaces.

The development’s design reportedly also includes 1,925 square metres (20,720 square foot) of landscaped spaces including a biodiversity terrace, a spa terrace, a communal courtyard and a new public walkway through the site from Newmarket Square to St. Luke’s Avenue.

“Delighted To Deliver This Important Project”

The Irish Times quotes BAM Ireland CEO Theo Cullinane as saying, “We are delighted to deliver this important project which will…[bring] long-term social benefits.”

 

 

Original article by Dave Simpson on hospitalityireland.com

The operator of the Radisson Blu hotel off of Dublin’s South Great George’s Street experienced a decrease in revenues during the 12 month period that ended on October 31, 2020.

As reported by The Irish Times, accounts filed by the Rhatigan group-owned Luxor Leisure Ltd reveal that revenues decreased by 57% from €12.3 million to €5.24 million during the 12 month period, and the company experienced a €2.93 million pre-tax loss, which followed a €1.15 million pretax profit the previous year.

The loss for last year reportedly takes account of €856,356 in non-cash depreciation costs and €3 million in lease payments to a connected entity, Luxor Investments.

 

Additional Statistics

The accounts also reveal that revenues from accommodation decreased from €8.39 million to €3.29 million during the 12 month period; revenues from food decreased from €2.2 million to €890,980; revenues from conferences decreased from €822,557 to €356,189; the number of people employed by the hotel decreased from 150 to 55; staff costs decreased from €3.37 million to €1.94 million; the company’s cash funds increased from €144,311 to €1.2 million; and shareholder funds at Rhatigan investment property firm Luxor Leisure amounted to €37.6 million at the end of the 12 month period.

 

COVID-19 Pandemic Effects

The accounts reportedly warn that the company continues to be exposed to the effects of the COVID-19 pandemic.

Revenue figures published reportedly reveal that Luxor Leisure availed of COVID-19 wage-subsidy scheme payments.

 

Franchise Agreement

The company operates a Radisson Blu franchise agreement that runs for 25 years with Rezidor Hotels.

In 2019, the company invested approximately €2.5 million in the ground floor of the hotel, including a revamp of the bar, restaurant and foyer areas.

 

Luxor Investments

The book value of investment properties owned by Luxor Investments in 2019 reportedly remained at €112 million, and it reportedly recorded pre-tax profits of €16.68 million and revenues of €30.5 million.

Original article by Dave Simpson on hospitalityireland.com

Aer Lingus has begun trialling the International Air Transport Association’s travel pass.

Trial And Pass Details

In a statement published on its website, Aer Lingus said, “Aer Lingus will begin trialling digital travel solution, IATA (International Air Transport Association) Travel Pass, on flights from Amsterdam to Dublin from today, July 5th.

“The IATA Travel Pass app can be downloaded onto a mobile device directly from the iOS App and Google Play store. Once downloaded, customers will create a secure account and will be presented with the entry requirements for their destination. Aer Lingus’ customers can then book a COVID-19 test with an approved provider and the results will be automatically uploaded into the app by the laboratory.

“The app then checks that a customer meets the COVID-19 test entry requirements for their destination and will then notify the customer to let them know that they are ‘OK to travel’. The airline’s parent company, International Airlines Group (IAG), has been working closely with IATA to co-develop the app that is now being successfully piloted by other global airlines, including British Airways and Iberia.

“As Aer Lingus seeks the best solutions for its customers to ensure frictionless travel it has been progressing with a number of digital solutions in addition to the IATA Travel Pass, including VeriFLY which has been trialled on routes to and from the US and London Heathrow.”

Aer Lingus CEO Statement

In a statement also published on Aer Lingus’s website, Aer Lingus CEO and chairman Lynne Embleton said, “We are committed to exploring ways to ensure that the customer journey is as frictionless as possible and sharing our learnings to help the travel industry take off again.

“We know that digital travel passes are part of the solution and they will also play a key role in offering those travelling the reassurance they need before they arrive at the airport.”

IATA Director General Statement

In another statement published on Aer Lingus’s website, IATA director general Willie Walsh said, “The IATA Travel Pass is a digital solution to verify the COVID-19 testing and vaccination status of passengers. We look forward to a successful trial with Aer Lingus that should give the government the confidence it needs to reopen its borders and safely reclaim Ireland’s welcoming reputation.”

 

Original article by Dave Simpson on hospitalityireland.com

A number of Irish restaurants have hit the market.

 

Properties

As listed by daft.ie, a takeaway restaurant in Foxford, Co. Mayo, is being sold via Kevin Beirne Auctioneer & Property Valuer.

Boats Bistro of Tinnahinch, Graiguenamanagh, Co. Kilkenny, is being sold via REA O’Shea O’Toole for €425,000.

A single storey café/restaurant with an attached six double bedroom, six bathroom two storey house that was previously a guesthouse in Castlecove Village, Caherdaniel, Castlecove, Co. Kerry, is being sold via McLoughlin Barry Estates for €385,000.

Margaret’s Café of Finisklin, Sligo, Co. Sligo, is being sold via DNG Flanagan Ford.

Two Commercial buildings in Castletownroche, Mallow, Co. Cork, are being sold via Dick Barry & Son in one lot for €110,000.

Greys Lane restaurant and bistro of Dingle, Co. Kerry, is being sold via Dingle Properties for €800,000.

The Corner House café and B&B of Ballinagare, Co. Roscommon, is being sold via Euro Resales Ltd for €220,000.

A coffee shop at 18 St. Gabriel’s Road Clontarf, Clontarf, Dublin 3, is being sold via Christina Guerin.

A property with the potential to be transformed into a restaurant, café or wine bar off of High Street, Kilkenny, Co. Kilkenny, is being sold via FitzGerald Housefinders for €360,000.

A restaurant property on Clare Street in Ballyhaunis, Co. Mayo, is being sold via APP Kirrane Auctioneering for €160,000.

A café/restaurant property in Fanore, Co. Clare, is being sold via Wild Atlantic Properties for €395,000 or €30,000 per year.

Classic India Indian Restaurant of 7/8 Market Street, Sligo, Co. Sligo, is being sold via IAM Sold Property Auctions for €180,000.

The Coffee of Place De Plouzane, Kilrush, Co. Clare, is being sold via DNG O’Sullivan Hurley Property & Financial Services for €160,000.

A restaurant in Tralee Town Centre, Tralee, Co. Kerry, is being sold via Ger Carmody Auctioneers.

Bridge Restaurant & guesthouse of Coleman Road, Cavan, Co. Cavan, is being sold via O’Reilly Taylor and Tweedy.

Village Diner of The Square, Caherconlish, Co. Limerick, is being sold via Wheeler Auctioneers.

A café/restaurant property at 170 Rathmines Road Lower, Rathmines, Dublin 6, is being sold via Capel Abbey Limited.

Viva Burg Diner of 50 Boherbee, Tralee, Co. Kerry, is being sold via Walsh O’Sullivan for €350,000.

A restaurant/takeaway property in Lisroyne, Strokestown, Co. Roscommon, is being sold via O’Donnellan & Joyce for €150,000.

A restaurant business in Enniscorthy, Co. Wexford, is being sold for €80,000.

A fast food outlet on The Crescent in Boyle, Co. Roscommon, is being sold via Sean Carroll.

A restaurant and takeaway at 6 Watermill Place, Main Street in Monasterevin, Co. Kildare, is being sold via BRG Gibson Auctions.

Additional Properties

Additionally, the property that houses Café Bliss at 4 and 4A Montague Street in Dublin is being sold via agent Eamonn Maguire.

Fishbone Restaurant of 324 Clontarf Road, Clontarf, Dublin 3, is being sold via Bagnall Doyle MacMahon.

Bar Italia restaurant of Ormond Quay Lower, at Millennium Bridge, Dublin 1, is being sold via Bagnall Doyle MacMahon.

 

Original article by Dave Simpson on hospitalityireland.com

Dalata Hotel Group has said in a new trading update that trade at its hotels improved in the second quarter of 2021.

 

Trading Update

Dalata stated in its trading update, which was published on its website today (Tuesday July 6), “Dalata Hotel Group plc (‘Dalata’ or the ‘group’), the largest hotel operator in Ireland with a growing presence in the United Kingdom, provides a trading update for the second quarter of 2021 in light of the on-going impact from COVID-19.

“Trade at the group’s hotels improved in the second quarter as non-essential customers were allowed to return to hotels on 17 May (England & Wales), 24 May (Northern Ireland) and 2 June (Republic of Ireland). Occupancies for the second quarter were 24% in Dublin, 32% in Regional Ireland and 30% in the UK.

“The group is mitigating the impact of reduced trading levels through pro-active cost control and the utilisation of available government supports. As a result, the group expects to be close to break-even at adjusted EBITDA for the first six months of 2021.

“Prior to reopening, the group repeated the audit of its health and safety practises at all hotels with independent accreditation from Bureau Veritas to provide further comfort to our people, our guests and our suppliers.

“Throughout the pandemic, we kept our core management teams in place and maintained strong engagement with our people. The retention of our core teams ensured a smooth reopening of the hotels for non-essential customers.

“Since reopening, trading has been better than expected and while the lead time on bookings remains short, the group’s forward bookings continue to improve. Occupancies for June were 37% in Dublin, 60% in regional Ireland and 44% in the UK. As seen in July and August 2020 when restrictions were relaxed, there has been a bounce in leisure demand at our hotels in regional Ireland and regional UK driven by staycations during the summer months. Demand for our Dublin and London hotels in the summer months is expected to be ahead of the level achieved in 2020 but will remain significantly below 2019 levels. Both cities require the return of international travel for occupancies to recover more substantially.

“The group continues to protect its liquidity with current cash and undrawn debt facilities of €267 million. Cash flow management, improved trading and continued government supports limited the cash outflow to €27 million since the end of December.”

 

Dalata CEO Designate Statement

In a statement that was published on Dalata’s website along with the trading update, Dalata CEO designate Dermot Crowley said, “I am delighted that our hotels have fully reopened to the general public. Our strategy of retaining our core teams throughout the pandemic has proved to be very beneficial. We have experienced teams in place who have serviced essential business during lockdown and have recently managed the re-opening of our hotels to all guests in a very safe manner.

“Despite the continuing impact of the COVID-19 pandemic, we continue to focus on protecting what is critical to Dalata’s long-term success. Our people are enthusiastic and engaged, our balance sheet and financial position remain robust, we have maintained communications with our customers, and we have strong partnerships with the institutional landlords who are fundamental to our growth strategy.

“COVID-19 continues to have a very significant impact on the hospitality industry. I remain encouraged by the pace of the vaccine rollout in both the UK and Ireland but am also aware of the threats posed by the uncertainty surrounding the potential impact of the Delta variant. In Ireland, international travel for non-essential reasons is currently expected to resume from 19 July. I look forward to welcoming international guests back to our hotels in the not-too-distant future.

“We look forward to opening our first hotel in Glasgow next month. This 300-room Maldron hotel is superbly located in the centre of Glasgow. We are on course to open a further six hotels in Bristol, Manchester, Glasgow and Dublin between November this year and May next year. Unfortunately, our previously announced Maldron Hotel in Birmingham will not now be proceeding as the developer has encountered difficulties in relation to the site. We still have an exciting pipeline of close to 3,000 rooms to open over the next three years. We will work on expanding this pipeline further in the coming months.

“I am confident that with our proven track record, well-invested portfolio, strong balance sheet and   team of talented people, we will continue to drive long-term success for all of our stakeholders. I am excited about the future for Dalata as we emerge from COVID-19.”

 

Original article by Dave Simpson on hospitalityireland.com