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Mar 20 2019, 07:25 GMT
Hotels
February RevPAR softer in Dublin; Regional Ireland remains positive
- Sectors : Hotels
- Companies : Whitbread | Dalata Hotel Group
Ratings
Ratings and price correct at time of issue
| Company | Rating | Date | Previous Rating | Date | Closing Price |
|---|---|---|---|---|---|
| Dalata Hotel Group | OUTPERFORM | 09/09/14 | Under Review | 03/09/14 | 587c |
| Whitbread | OUTPERFORM | 01/06/16 | N/A | N/A | 5052p |
DAVY VIEW
Following 26 months of positive RevPAR growth, Dublin moved to a negative in February while Regional Ireland remains positive. Given our Dublin RevPAR forecast of 1.8% and the headwinds in 2019 (VAT, supply and strong comps), some softer months should be expected during the year. Additionally, Dalata’s Q1 trading comment and STR’s updated forecast for Dublin give us continued confidence in our numbers. Turning to the UK, the picture remains more mixed with Greater London again strong while Regional UK is softer, particularly in the budget segment.
