NEW TRANSACTIONS SEE DALATA EXPAND IN THE UK
Dalata Hotel Group has agreed to acquire nine hotels from Moran & Bewley's Hotel Group for €455 million, using cash reserves, debt and a portion of its issued share capital. Moran & Bewley's portfolio consists of ten hotels across Ireland and the UK under its two brands. The group will retain ownership of the Red Cow Moran Hotel in Dublin and Dalata will become the owners of the remaining five hotels in Ireland (four Bewley's hotels in Dublin and a Moran property in Cork) and four hotels in the UK (Bewley's hotels in Manchester and Leeds and two Moran hotels in London), increasing its UK assets to five. Dalata has also signed an agreement to purchase the Pillo Hotel & Spa in Galway, Ireland for €10.5 million. The group has operated the 104-room hotel under a management contract since 2011. The all-cash deal is expected to close in January 2015. Dalata commented that it has plans to further develop the four-star hotel.