Dalata Hotel Group has acquired the long leasehold of a large hotel development in Aldgate, London for £91 million. The hotel, which is planned to have 212 rooms, with a restaurant, bar and gym access, is expected to be operational by the end of 2018.

The deal will be funded by an additional debt facility which has been secured from the company’s existing banks, and is conditional on the completion of the hotel to an agreed specification.

When asked for comment on the purchase, Dermot Crowley, deputy chief executive at Dalata, said: “We are delighted to secure this new hotel in Aldgate, London. We already successfully operate two Clayton hotels in the Greater London area at Chiswick and Cricklewood. This new hotel gives us a presence in a key central location within the city and is ideally located for corporate customers who want to be close to the City of London and leisure guests visiting the many attractions that the city has to offer. Access to the Aldgate area will be further enhanced with the opening of two new Crossrail stations at Liverpool Street and Whitechapel in December 2018.”

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