Dalata Hotel : 2023 Half Year Results Investor Presentation

2023 HALF YEAR RESULTS

DELIVERING GROWTH

CONTENTS

Highlights	3
Financial Review	8
Development & Growth Strategy	20
Outlook	27
Appendices	31

DISCLAIMER

The presentation contains forward-looking statements. These statements have been made by the Directors in good faith based on the information available to them up to the time of their approval of this presentation. Due to inherent uncertainties, including both economic and business risk factors underlying such forward- looking information, actual results may differ materially from those expressed or implied by these forward-looking statements. The Directors undertake no obligation to update any forward-looking statements contained in this presentation, whether as a result of new information, future events or otherwise.

Clayton Hotel London Wall

HIGHLIGHTS

3

H1 2023 HIGHLIGHTS

+	41%	+24%		+€112m
29%				Capital deployed into
Hotel revenue1	Hotel EBITDAR1	Adjusted EBITDA1
growth vs H1 2022	margin	growth vs H1 2022		two London hotels
				YTD 2023
Impressive	Effective margin	Strong contribution	Successfully
performance	delivering our
management in	from 2022
continues through		ambitious growth
inflationary	additions2 and 'like
proven business
environment	for like'1 hotels	strategy
model
			Current pipeline: 1,141 rooms
Board declared interim dividend of 4.0 cent per share
Commitment to our people	Focus on innovative solutions		Progressing sustainably
Excellent employee engagement score	Adapting work practices and hotel design to	24% reduction in Scope 1 and Scope 2 carbon
Achieved Silver 'Investors in Diversity' award	maximise efficiencies	emissions per room sold in H1 2023 vs H1 2019

4 | Dalata H1 2023 Results

1. See glossary on slide 37
2. See slide 36

EXCELLENT MOMENTUM

Operating and development teams delivering record performance

Hotel revenue1 (€m)

CAGR: +9% (H1 2019 - H1 2023)

284.8

Adjusted EBITDA1 (€m)

CAGR: +9% (H1 2019 - H1 2023)

103.4

Free Cashflow1 (€m)

CAGR: +7% (H1 2019 - H1 2023)

201.9

220.2

83.5

73.4

56.659.2

45.2

H1 2019

H1 2022

H1 2023

H1 2019

H1 2022

H1 2023

H1 2019

H1 2022

H1 2023

Strong asset-backed balance sheet and low gearing provide growth opportunity through acquisitions and leasing

Net debt to EBITDA after rent1

2.8x

Hotel assets1 (€bn)

Portfolio growth2 (#rooms)

		12,081
	10,216	10,660
8,790

1.9x

1.0x

1.5

1.6

1.4

	40%	42%	44%
27%
73%	60%	58%	56%

Jun-19Jun-22Jun-23

Dec-19Dec-22Jun-23

Hotel assets (€bn)

Jun-19		Jun-22		Jun-23	Jun-23 incl.
		Owned		Leased	announced
			pipeline

5	| Dalata H1 2023 Results	1	See glossary on slide 37
2	Excludes three managed hotels (299 rooms at 29 August 2023)