Dalata Hotels buys Clayton Hotel Cardiff for £24m
The company already runs the 216-bedroom hotel, but was interested in purchasing the property's freehold to cancel out unpredictable rent reviews in the future.
Dermot Crowley, deputy CEO business development and finance at Dalata Hotels, said: “Clayton Hotel Cardiff has performed very strongly this year. We are delighted to be able to purchase the freehold interest of the hotel. This transaction is consistent with our stated strategy of buying out the freehold interests of those leased properties with future unpredictable rent reviews.”
Richard Dawes, associate director in the hotels team at Savills, who advised Dalata Hotels on the acquisition, said: "Cardiff is undergoing significant regeneration and Dalata Hotel’s purchase of the hotel reflects their confidence in both the UK and local operational markets.”
The hotel, which includes seven conference rooms, the View Restaurant and Bar and the Viva Brazil Restaurant, is close to Cardiff Central Station, Central Square and the city centre.
Dan Griffiths at EJ Hales, who advised the private vendor, said: “The sale of Clayton Hotel represents significant confidence in Cardiff. The good relationship between the two parties allowed the sale to have a quick turnaround, making sense for both parties.”
