Dalata Hotel Group acquires £91m contract to build new hotel in Aldgate

Dalata Hotel Group plc has exchanged contracts to acquire the long leasehold interest of a hotel under development, located at Aldgate, for £91m.

As part of the transaction, Dalata will acquire the entire issued share capital of Hintergard Limited from Aldgate Hotel Holdco LLC - an international private equity real estate investor.

Hintergard Limited owns the 300-year leasehold interest of a hotel under development. The transaction is conditional on the completion of the hotel to an agreed specification.

The construction of the hotel, which will be branded Clayton Hotel Aldgate London, is expected to be completed and operational towards the end of this year.

Dermot Crowley, deputy CEO of business, development and finance, said: “We are delighted to secure this new hotel in Aldgate. We already successfully operate two Clayton hotels in the Greater London area at Chiswick and Cricklewood.

“This new hotel gives us a presence in a key central location and is ideally located for corporate customers who want to be close to the City of London and leisure guests visiting the many attractions that the city has to offer.

“Access to the Aldgate area will be further enhanced with the opening of two new Crossrail stations at Liverpool Street and Whitechapel in December 2018.”

The hotel will have 212 rooms, with a restaurant, bar and access to a fitness centre.

It will be located adjacent to Aldgate East Underground Station and in close proximity to the new Liverpool Street and Whitechapel Crossrail stations, both of which are scheduled to open in December 2018.

Today’s announcement is said to represent an important milestone in the growth of Dalata in the UK, as they now have a pipeline of almost 2,000 rooms across key cities like London, Birmingham, Glasgow, Manchester and Bristol.

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