Ireland’s largest hotel group plans a £60 million new hotel in London despite Brexit uncertainties.
A site has been acquired by Dalata Hotel Group in Shoreditch for £32 million with planning permission for the company’s first Maldron property in the capital.
The property will have up to 140 rooms and is expected to open in early 2022.
This is in addition to a pipeline of hotels in Dublin, Bristol, Manchester, Glasgow and Birmingham.
The company said: “We remain positive about our ability to exploit the opportunity that exists for us in the UK.
“Trade at our UK hotels was very strong in both July and August and ahead of our expectations.
“Despite the ongoing uncertainty surrounding the timing and nature of Brexit, the outlook for the balance of the year looks positive.”
The outlook came as Dalata reported a 6.7% rise in pre-tax profits to €37.8 million in the six months to June 30 based on revenue growth of 12.2% to €201.9 million over the same period last year.
CEO Pat McCann said: “Despite the challenges of a significant increase in the VAT rate in Ireland and the ongoing uncertainty surrounding the timing and nature of Brexit, 2019 to date, as a whole has been another very successful year.
“The outlook for the balance of the year looks very positive.
“We are currently looking at a number of exciting opportunities in the UK and Ireland and we expect to announce further additions before the end of the year.”