Ireland’s largest hotel operator Dalata Hotel Group has acquired the Radisson Hotel Dublin Airport for €83 mln.
The seller is affiliated with Emerald Investment, and Windward Management has been responsible for operating the hotel. Dalata will fund the purchase price using its existing cash reserves and banking lines of credit.
The four-star hotel, boasting 229 bedrooms, extensive meeting facilities, a bar, restaurant, and ample parking, is strategically located at Dublin Airport. With an EBITDA of €6.5 mln and consolidated gross assets of €83 mln in 2023, and having undergone a recent refurbishment program, the hotel requires minimal initial investment."
The acquisition also unlocks future development potential with two significant planning approvals already in place. Upon completion of the transaction, the hotel will be rebranded as a Clayton hotel. The remaining tenure of the leasehold is 107 years.
The deal, financed through Dalata's existing cash and banking facilities, is expected to close in the first half of 2025, subject to regulatory approval from the Competition and Consumer Protection Commission (CCPC).
Shane Casserly, deputy CEO of Dalata Hotel Group commented: ‘The acquisition of this Hotel is a compelling opportunity to secure a strong revenue-generating hotel, in an excellent location. This Hotel is well-positioned to provide hospitality services to Dublin Airport passengers and the greater north Dublin community, supporting both the local and national economies. The Hotel aligns with our investment criteria and offers us the very attractive opportunity to invest and further develop the Hotel offering on the overall site, delivering greater investment returns into the future.’
Dermot Crowley, CEO of Dalata Hotel Group said: ‘This acquisition is an exceptional opportunity in a vibrant hotel market. We will continue to balance disciplined growth, capital efficiency and financial strength with returns to shareholders.’
Patrick Coyle, chairman of Windward Asset Management commented: ‘The Radisson Blu Dublin Airport has been successfully managed by Windward Management for many years. Their work has created a strong foundation that will undoubtedly benefit the Property’s future stakeholders.’
This strategic move strengthens Dalata's presence in Ireland and adds to its growing portfolio across the UK and Continental Europe.
Dalata Hotel Group’s €1.7bn portfolio consists of both owned and leased hotels with 57 primarily four-star hotels operating through its two main brands, Clayton and Maldron Hotels, with 12,258 rooms and a pipeline of over 700 rooms, primarily in Ireland and the UK.
