Dalata buys Hotel La Tour for £31m

AIM-listed Dalata has acquired Hotel La Tour for £31m from Hotel La Tour Limited, which owns the long leasehold interest in the hotel situated on Park Street in the centre of Birmingham.

The consideration is payable from Dalata's existing banking facilities.

Hotel La Tour was newly built in 2012 and has 174 bedrooms, a restaurant, bar as well as extensive conference and meeting facilities. The hotel, which is located within walking distance of Birmingham New Street Station in the centre of the city, will re-branded as a Clayton hotel in the final quarter of this year.

Deputy chief executive officer of development and finance, Dermot Crowley, said: "Hotel La Tour in Birmingham represents an outstanding opportunity to operate a newly built hotel in the centre of one of the largest cities in the UK. The acquisition is consistent with our stated strategy of rolling out both our Maldron and Clayton hotel brands across the larger UK cities."