New 206 room hotel planned for central Belfast
Published 15/04/2016 | 18:49
Hotels operator Dalata has agreed terms to build a 206 room hotel in central Belfast.
In a stock exchange announcement, the company said it has signed a development contract with McAleer & Rushe to build a Maldron Hotel on Brunswick Street in heart of the city.
“Planning permission for a new 14 storey hotel, designed by Belfast architect Consarc, was granted in November 2015. The hotel will be built on the site of the former Belfast Metropolitan College, which McAleer & Rushe acquired in August 2014 and represents a £21m investment, delivering in excess of 100 new employee positions for the local economy when the hotel is operational,” Dalata said.
Demolition of the site has already begun and construction is due to commence in June. If everything goes according to plan, the hotel is expected to be completed in the first half of 2018.
Dalata’s head of business development and finance Dermot Crowley commented: “We are delighted to announce the development of a new Maldron Hotel in central Belfast. Revenue per available room (RevPar) growth was strong in 2015 in our existing Northern Ireland hotels and we have been keen to expand our portfolio in Belfast.”
RevPar is considered the key metric on the health of a hotel market.
“This new hotel continues the rapid expansion of the Maldron brand on the island of Ireland and we look forward to working with McAleer & Rushe on the development,” he added.
The deal was announced after markets closed on Friday. For the day, Dalata shares fell 2.4pc to €4.36. The shares have risen 21pc in the last year.