Download full report with analyst certification and important disclosures
May 20 2019, 08:30 IST/BST
Hotels
April RevPAR broadly softer in Ireland and UK given a pause for Easter
- 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 | 562c |
| Whitbread | OUTPERFORM | 01/06/16 | N/A | N/A | 4551p |
DAVY VIEW
A later Easter this year has weighed on April’s RevPAR, with Dublin dipping softer while Regional Ireland remains positive – even with the 4.5% VAT headwind that both markets face in 2019. UK markets were also soft, with greater London breaking its six-month positive RevPAR trend. For the budget segment, Regional UK continues to be under pressure while the London weakness is likely more Easter related. More broadly, we believe Dalata’s positive AGM comments on H1 trading highlight its ability to outperform, driven in part by its decentralised structure.
