DJ Dalata Hotel Group PLC: 2023 Half Year Report Dalata Hotel Group PLC (DAL,DHG) Dalata Hotel Group PLC: 2023 Half Year Report 29-Aug-2023 / 07:00 GMT/BST=----------------------------------------------------------------------------------------------------------------------
Dalata Hotel Group PLC Dalata Hotel Group PLC: 2023 Half Year Report 29-Aug-2023 / 07:00 GMT/BST =---------------------------------------------------------------------------------------------------------------------- Delivering Growth Adjusted EBITDA1 up 24% to EUR103 million in H1 2023 ISE: DHG LSE: DAL Dublin and London | 29 August 2023: Dalata Hotel Group plc , the largest hotel operator in Ireland, with a growing presence in the United Kingdom and continental Europe, announces its results...
-- Experienced and skilled Acquisitions and Development team with a track record of securing opportunitiesin competitive markets, targeting prime city locations with strong mix of corporate and leisure businessprincipally in the UK and continental Europe-- EUR0.5 billion of property value growth since IPO
-- Dalata Employer Brand launched earlier this year to position Dalata as clear employer of choice in eachof its marketsRELENTLESS FOCUS ON SUSTAINABILITY The Group has entered into fixed pricing contracts for approximately 80% of its projected gas and electricity consumption until December 2024. Gas and electricity costs for the first six months of 2023 amounted to approximately EUR15 million, based on expected consumption levels we expect a reduction in these costs to approximately EUR14 million for the second half of 2023 given improved pricing.
The Group has delivered a record set of financial results and reported excellent customer and employee satisfaction scores. We have responded effectively to the challenge of rising costs through cost and revenue management initiatives, a focus on reducing utility consumption and adopting innovation across all areas of the business.
For the six-month period ended 30 June 2023, the Group generated hotel revenue1 of EUR284.8 million, representing an increase of 29% compared to the same period in 2022. This increase is driven by strong performance at existing hotels, growing hotel revenue1 by EUR44.5 million in H1 2023 which reflected both the Q1 2023 recovery versus Q1 2022 in addition to ongoing room rate growth. The seven hotels added to the portfolio during 2022, together contributed a period-on-period increase of EUR24.
The following section analyses the results from the Group's portfolio of hotels in Dublin, Regional Ireland and the UK. As a single property, Clayton Hotel D'sseldorf has been included in the Dublin region. 1. Dublin Portfolio3 For the six-month period ended 30 June 2023, hotel revenue1 for the Dublin portfolio was EUR149.4 million, up EUR38.8 million on the same period in 2022. 'Like for like'4 hotels contributed EUR25.1 million of this uplift, while additions to the portfolio during 2022 added further revenues of EUR13.7 million.
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