Ireland’s largest hotel group sells interest in top London hotel
Ireland’s largest hotel group, Dalata, has sold Kasterlee UK Limited, the company which holds the leasehold interest in the Croydon Park Hotel.
The London hotel made a small loss of £20k (€23k) in the six months to end of June 2017.
The four star hotel has 211 guest rooms, a leisure club, and conference facilities for up to 220 delegates.
“I would like to thank the management and staff of the Croydon Park Hotel for the commitment and dedication showed while the hotel was part of Dalata Hotel Group,” Dermot Crowley, deputy CEO of business development and finance at Dalata, said.
In June this year Dalata announced that it had agreed the sale and leaseback of its Clayton Hotel in Cardiff Wales, to M&G Real Estate, one of the world’s largest property investors.
The hotel was sold for £22.1m (€26m) and will now be let to Dalata for £1.15m a year over the next 35 years subject to rent reviews every five years.