Irish hotel group to raise ?160m for acquisitions

Irish group Dalata Hotels is set to raise ?160m in additional equity to support its further acquisitions.
CEO Pat McCann said: ?This underlines our belief that there will continue to be opportunities to acquire well located assets at attractive valuations together with attractive investment opportunities to expand facilities at the hotels that we have already acquired.
?We also see an opportunity to develop new hotels in Dublin where there has been very limited supply in the last eight years.?
Dalata Hotel Group currently operates 41 hotels with more than 7,000 rooms in Ireland.
Of these, 17 are owned by Dalata, while 11 are operated under lease agreements and the remaining 13 are operated under management agreements.