Hotel group sees ‘measured’ consumer behaviour in the UK and Ireland
In Dublin, Dalata chief executive Dermot Crowley said the hotel sector has faced challenges in the past year with RevPar down 5.4 per cent across the market. Photograph :Barry Cronin for The Irish Times.
Ireland’s largest hotel group Dalata has announced a €30 million share a buyback and recommended an interim dividend payment of 4.1 cent per share despite seeing more “measured” consumer behaviour in recent weeks, its chief executive has said. In interim results published on Wednesday, the Dublin-listed group said revenue per available room – a key profitability metric in the hotel industry – grew by just 1 per cent in the six months to the end of June to €110.77.
Average room prices, meanwhile, increased by 2 per cent to €142.67 despite a slight decline in room occupancy levels from 78.4 per cent in the first half of 2023 to 77.6 per cent this year. In Dublin, Dalata chief executive Dermot Crowley said the hotel sector has faced challenges in the past year with RevPar down 5.4 per cent across the market in the 7-month period to the end of July amid a 9 per cent increase in the number of rooms available in the city and the normalisation of the VAT rate for hospitality in September 2024.Against this backdrop, he said Dalata was “delighted” to outperform the Dublin market with RevPar down just 4.6 per cent in the city over the period.
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