Dalata raises €265 million

The company that could be in the market for two Laois hotels has raised €265 million investment.

Dalata, which runs the Heritage Hotels in Portlaiose and Killenard for NAMA, raised €265m in its IPO last week. This was above targets of between €150m and €200m. The sale of shares in the company, which owns the Maldron Hotel in Portlaoise, attracted international investment.

“As the largest hotel operator in Ireland, we are delighted to be in a position to join the Irish Stock Exchange today,” said Pat McCann, chief executive.

(We wish to correct a recent article in which it was incorrectly reported that the company hoped to raise €200).