Investor behind Dalata says it looks to “maximise value”

Responding to speculation that hotel group is looking to go public, TVC Holdings says that it looks to manage its portfolio “in order to maximise value for all our shareholders”

The Maldron Hotel Portlaoise. The Sunday Times reported at the weekend that the group behind the hotel chain is considering a stock market flotation.

The Maldron Hotel Portlaoise. The Sunday Times reported at the weekend that the group behind the hotel chain is considering a stock market flotation.

 

TVC Holdings, which has a substantial shareholding in the Dalata Hotel Group, this morning responded to media speculation at the weekend that the hotel group is planning a stock market flotation to raise €100 million to buy hotels.

In a statement to the stock exchange, the investment holding company, which also counts UTV Media and banking software provider CR2 among its investments, said that it “continues to look for value-enhancing investments and to manage our existing portfolio in order to maximise value for all our shareholders”.

Dalata, which is headed up by former Jury’s supremo Pat McCann, is also backed by Davy private clients, and is reportedly looking to seize opportunities in the hotel market.

Dalata already operates 34 hotels in key locations -13 under its own Maldron brand - with 5,400 rooms.