DAVY VIEW

Dalata has this morning announced that it has acquired a 192-bed hotel in Finsbury Park in North London for £44.3m at a very attractive price per key. It expects this to contribute c.£4m of stabilised EBITDA. The hotel is well located and will provide a good mix of leisure and commercial customers. Although it represents only a small number of rooms in the context of the group, we believe this again highlights Dalata’s exceptionally strong balance sheet which will facilitate further growth.