A joint-venture acquisition of Ireland-based Dalata Hotel Group is now complete as Dalata has officially delisted its shares from Euronext Dublin and the London Stock Exchange.
In July, Scandinavian companies Pandox AB and Eiendomsspar AS revealed an all-cash bid to acquire Dalata, which valued the Irish hotel company at €1.4 billion. Dalata shareholders approved the deal in mid-September.
A message on the stock exchange confirmed the news of Dalata now being a privately held business. Its new owner is Pandox Ireland Tuck Limited.
Dalata — Ireland's largest hotel group — currently has 56 hotels and approximately 12,000 rooms across Ireland, the United Kingdom, Germany and The Netherlands. Its development pipeline includes 1,912 hotel rooms, and the company plans to have more than 21,000 rooms in operation and/or development by 2030.
Thirty-one of Dalata's hotels — mostly in two brands, Clayton and Maldron — are owned, 22 are leased and three are operated in hotel management agreements.
In its goal of expanding its portfolio across Europe, Dalata plans to open the 274-room Clayton Hotel Tiergarten Berlin in the second half of 2026 under a 25-year operating lease following an 18-month renovation. Another property in development is the 243-room Clayton Hotel Valdebebas Madrid, which is scheduled open in the first half of 2029 under a 15-year operating lease that includes two, five-year tenant extension options.
Stockholm-based Pandox has a portfolio of 193 hotels and approximately 43,000 rooms in 11 European countries.
Oslo-based owner Eiendomsspar acquired Pandox with partner Sundt AS in 2004.
Long-term Pandox partner Scandic Hotels — also based in Stockholm — acquired Dalata’s hotel operations in July. As part of that agreement, the 31 owned hotels will transfer to a leasehold model.
In its Aug. 27 earnings results for the first six months of 2025, Dalata posted a 1% year-over-year revenue increase to €306.5 million. However, its earnings before interest, taxes, depreciation and amortization declined 5% to €102.5 million and revenue per available room dipped 2% to €108.61. Dalata officials blamed those declines on rising cost inflation.