Ireland's Dalata Hotel buys four-star hotel in Cardiff for £24m

Irish hotel operator Dalata Hotel Group bought the freehold of 216-room Clayton Hotel in Cardiff for £24m (€27m).

The hotel, which is close to Cardiff Central train station and the Principality Stadium, was bought from Rush Central, which owned the freehold interest.

The company currently holds a leasehold on the four star hotel until 2046 with an annual rent of £1.511m, subject to upward only rent reviews at five year intervals.

Rush also owns a restaurant on the ground floor of the building, which is leased to Viva Brazil Cardiff, on a 20 year lease till 2032.

Dermot Crowley, deputy chief executive of business development and finance, said: "Clayton Hotel Cardiff has performed very strongly this year. We are delighted to be able to purchase the freehold interest of the hotel. This transaction is consistent with our stated strategy of buying out the freehold interests of those leased properties with future unpredictable rent reviews."