Clayton and Maldron Hotels owner Dalata Hotel Group has reached agreement to buy the Radisson Blu Hotel Dublin Airport for €83m, subject to approval by the competition watchdog, the Competition and Consumer Protection Commission (CCPC).
The remaining tenure of the hotel’s leasehold is 107 years, and the transaction is scheduled to close during the first half of 2025.
Dalata plans to redevelop the property under its Clayton Hotels brand. The new hotel will give Dalata an even stronger presence at Dublin Airport, where it already operates one Clayton and one Maldron hotel.
The existing Radisson property sits on 4.4 acres of land located at Dublin Airport. It is a four-star hotel with full four-star facilities consisting of 229 bedrooms, extensive meeting and event facilities, bar, restaurant, and substantial on-site parking.
Shane Casserly, Deputy CEO of Dalata Hotel Group commented: “The acquisition of this hotel is a compelling opportunity to secure a strong revenue generating hotel, in an excellent location. This hotel is well positioned to provide hospitality services to Dublin Airport passengers and the greater north Dublin community, supporting both the local and national economies. The hotel aligns with our investment criteria and offers us the very attractive opportunity to invest and further develop the hotel offering on the overall site, delivering greater investment returns into the future.
“Our advisors are ready to engage with the CCPC immediately and subject to their approval, we look forward to welcoming the hotel and our new colleagues into Dalata in the first half of 2025.”
Dermot Crowley, CEO of Dalata Hotel Group commented: “This acquisition is an exceptional opportunity in a vibrant hotel market. We will continue to balance disciplined growth, capital efficiency and financial strength with returns to shareholders”.
Dalata is buying the property from a related party of Emerald Investment. The Radisson at Dublin Airport is currently operated by Windward Management.
Patrick Coyle, Chairman of Windward Asset Management commented: “The Radisson Blu Dublin Airport has been successfully managed by Windward Management for many years and we would like to acknowledge the ongoing commitment of management and staff in delivering top class performance and customer service. Their work has created a strong foundation that will undoubtedly benefit the Property’s future stakeholders. The completion of this Transaction is subject to regulatory approval which may take several months to secure. During this period the commitment of all involved is much appreciated as we work towards a seamless transition”.
