Irish hotel operator Dalata has agreed to buy a hotel that is currently being developed in Aldgate, east London for 91 million pounds ($117 million) and will operate under its Clayton brand.
The deal will be funded by a new debt facility agreed with existing lenders. Dalata expects this flagship acquisition to be highly accretive, strengthening its UK brand and portfolio while further supporting its stated growth ambition.
This new hotel gives the company a presence in a key central location within the city 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.
The construction of the 212-room hotel, which will be branded Clayton Hotel Aldgate London, is expected to be completed and operational towards the end of 2018.