DAVY VIEW

Dalata has announced that it has exchanged an agreement on a lease for a 4-star Clayton hotel in the City of London. Subject to planning, the 154-bed hotel will be developed at 20 Old Broad Street in the centre of London. Although it will not open until 2028, this is further illustration of both the improving quality of Dalata’s estate and the scale of its growth ambitions, which were set out at its recent investor day. Dalata will operate the newly developed hotel on a 25-year lease. This provides evidence that the more capital-light leasehold growth avenue is open to the group.