Maldron Arrives in London
Dalata Hotel Group has bought a new 192-bedroom hotel in London for €49.7m from Furadino Holdings. It will become the first Maldron Hotel in London.
The newly finished hotel, which has never traded, consists of 192 bedrooms, ground floor lobby and a restaurant and bar and is situated in Finsbury Park, North London.
Before opening this summer, Dalata said it will invest more than £2m to enhance the property and launch under the Maldron brand. The hotel will be Dalata's firs’t Maldron hotel in London, its 18th hotel in the UK, and its opening will see the creation of over 50 jobs locally.
Dalata said the hotel was built using the Vision Modular System, which can result in as much as a 40% saving in carbon emissions when compared with traditional methods of construction.
Dermot Crowley, the chief executive of Dalata, said that London is a key strategic growth market for the company.
"We are very excited to be opening our first Maldron hotel in the city in advance of our Maldron in Shoreditch which is currently under construction. This acquisition represents an outstanding opportunity to operate a new, sustainably built hotel in a vibrant and developing area as we continue our ambitious UK expansion plan," he said.
"The strength of our balance sheet has been a crucial element in enabling us to make this investment as we continue to create value for all of our stakeholders," he added.