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Hotel group Dalata said it expects its earnings before interest, taxation, depreciation, and amortisation (ebitda) for 2020 to be “marginally ahead” of market expectations, despite Covid-19 challenges.
In a note this morning, analysts at Davy said they estimate Dalata’s ebitda result could be “€4m-€5m above our forecast of €12.9m.”
Unsurprisingly, Ireland’s largest hotel operator said trading in the second half the year was continually disrupted as a result of Covid-19 restrictions across the regions in which it operates, according to a trading update. Read More
Its Dublin and London hotels were quieter because a higher proportion of their business is ordinarily driven by international travel and events.
Dalata Hotel Group PLC (DAL,DHG)
Dalata Hotel Group PLC: Year End 2020 Trading and Development Update
17-Dec-2020 / 07:00 GMT/BST
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Year End Trading and Development Update
Strong Financial Position to Support Business Recovery and Growth
Dublin, 17 December 2020 | Dalata Hotel Group plc ( Dalata or the Group ), the largest hotel operator in Ireland, with a growing presence in the United Kingdom, is pleased to announce that despite the challenging environment, EBITDA for the year ending 31 December 2020 is expected to be marginally ahead of market expectations and the Group remains in a strong financial position with current cash and undrawn debt facilities of €293 million after deducting upcoming payments including quarterly rent and interest.
Updated / Thursday, 17 Dec 2020
14:55
Dalata said that occupancy levels for Q4 is currently projected to be 17% in Dublin, 28% in Regional Ireland and 21% in the UK
Dalata Hotel Group said that despite the challenging environment, its earnings for the year to the end of December are expected to be marginally ahead of market expectations.
In a year end trading update, Dalata said its operations in the the second half of the year was continually and acutely disrupted as a result of Covid-19 restrictions across its markets in Ireland and the UK.
The hotel group said that after the initial lockdown in Ireland and the UK, its hotels reopened to the general public in June and July.