Dalata Hotel Group PLC (LSE:DAL) has expanded its footprint in Scotland and made its first move into The Netherlands.
In Edinburgh, the Ireland-based chain has acquired a development site for £12.5 million at 28 St. Andrew’s Square, plus it has also bought the leasehold interest in Hard Rock Hotel Amsterdam American.
Dalata is proposing the construction of a new 153-bedroom 4-star Clayton Hotel on the Edinburgh site, which is expected to be completed by mid-2026 and cost around £48 million.
The Amsterdam site will cost €29.5 million and be rebranded to Clayton Hotel Amsterdam American.
Dalata said it will invest approximately €4.5 million to enhance the property over the coming years.
The hotel comes with an expectation of stabilised annual earnings of circa €5 million, it added.
Dermot Crowley, Dalata’s chief executive, commented: "Edinburgh has long been a target city for us to locate our brands and we are delighted to have secured such a prestigious building in the centre of the city. This will be our third hotel in Scotland.
“We are also delighted to have secured our first Clayton hotel in Amsterdam. The American Hotel has a renowned reputation in the city and we will continue to protect and enhance that with our Clayton brand.”