Ireland’s largest hotel operator, The Dalata Hotel Group, is seeking to raise between €150m and €200m as it confirmed it’s intention to trade on the Enterprise Securities Market (ESM) market of the Irish Stock Exchange and the Alternative Investments Market (AIM) of the London Stock Exchange.
It will use the majority of the funds to expand their presence in Ireland by 16-25 hotels.
The company will use the remainder of the funds is to be used to pay down existing debt, which was €4.1m as of 31 December 2013.
Pat McCann, chief executive officer of Dalata, told the Irish Independent that international demand is growing steadily across the Irish hotel sector and especially inDublin.
“With that growth available we have the presence and the know how to derive value and a sustained earnings flow from assets that have been starved of attention and development over recent years,” he said.