- Home
- About Us
- Asset Management
- Equity Capital Markets
- Investors
- Press
- Work for Us
- Contact Us
- Research Login
Press
Dawnay Shore Hotels Acquires Three Further Hotels
2004-12-17
Highlights
- DSH is acquiring three four star freehold hotels, with a total of 587 rooms and substantial conference facilities, for £57m;
- the hotels being acquired are highly complementary to DSH's existing portfolio both in geographical terms and business mix;
- Charles Prew, chief executive of Dawnay, Day Hotel Management Limited ("DDHML"), is particularly familiar with the hotels being acquired, as he was formerly managing director of the vendor group;
- DDHML believes that it can significantly improve the occupancy at the hotels being acquired as part of a larger complementary group;
- the Company is issuing 113 Units at a price of £105,000, raising £11.9m, of which 101 Units are being subscribed by The Hotel Corporation plc;
- trading at Paramount Hotels Group Limited since its acquisition by DSH, in July 2004, has been strong and EBITDA is up 7.3 per cent year on year;
- the existing hotel portfolio of DSH, acquired from the Paramount Group, has been valued by Colliers Robert Barry as at 18 November 2004 at £235.1m, representing an increase of 9.3% over the consideration paid by DSH for this chain on 12 July 2004.
Regulatory Framework and Disclaimer
Shore Capital Stockbrokers Limited is a member of the London Stock Exchange and is regulated by the Financial Services Authority ("FSA").
Shore Capital Limited and Shore Capital and Corporate Limited are regulated by the FSA.
The information on this website about Shore Capital Limited plc ("the Company") is derived from sources considered reliable but no warranty, expressed or implied, by the Company, its directors or employees is given as to its accuracy or completeness. No reliance should be placed on this information in any decision to acquire or dispose of shares in Shore Capital Limited plc or any investment referred to herein. Potential investors in the Company's shares are recommended to take advice before dealing from an authorised professional investment adviser or stockbroker.
The services described on this website are available solely subject to the terms and conditions of a client engagement agreement which will represent the whole agreement between any Shore Capital company and the client. The description on the website is to provide a preliminary overview and cannot be relied upon as the basis of any contractual obligation. No investment advice is offered on this site and none should be construed as being offered. Past performance is not necessarily a guide to the future and share and unit prices can go down as well as up.
Where links have been provided to other websites this has been done solely for our users' convenience, without giving any express or implied guarantee, endorsement or recommendation by Shore Capital Limited plc. Shore Capital Limited plc has no responsibility for the content of such websites and cannot accept any liability in this respect. Use of these links implies acceptance of this condition.
Whilst we seek to keep this website up-to-date, the information displayed is subject to change without notice.