Hotel group Dalata saw revenue jump 33 per cent to €130.1 million in the six months to the end of June.

The company, which runs hotels under the Clayton and Maldron brands, recorded a pre-tax profit of €18.2 million, up from €2.7 million for the period last year.

The group has also announced the purchase of the Maldron Hotel in Cork for €8.1 million as well as three adjacent buildings for a further €5 million.

The State’s biggest hotel business also recently announced it was in exclusive discussions to buy the former Burlington Hotel in Dublin.

The company said it had invested €13.2 million in hotel development and refurbishment in the first half of 2016 and was progressing plans to develop new hotels in Dublin, Cork and Galway and obtain planning permission for extensions to four of its hotels in Dublin and Galway.

The group said prospects remain “very strong” for the hotel market in Dublin and the regional cities while noting the impact of Brexit on the UK hotel market is not yet clear.

The company said that a significant reduction in the value of sterling would make Ireland a more expensive destination for UK visitors, which could impact on the number of UK residents staying in Irish hotels.

“We were disappointed with the outcome of the Brexit vote in the UK due to the uncertainty it creates and its potential negative impact on the future prospects of the UK and Irish economies,” chief executive Pat McCann said.

“ To date, we have not seen any impact on trading at our hotels but we are monitoring booking levels closely to ensure that we react quickly to any impact,” he said, while noting that overall trade remained above expectations .