- Dalata Hotel Group said Monday it had entered into arrangements to lease a new hotel located in Dublin.

The new hotel would form part of the 'Spencer Place project,' which would extend to over 1m sq. ft. and was being developed by a joint venture of Ronan Group Real Estate and Colony Capital, the company said.

The scheme included 430,000 sq. ft. of Grade A office space, with the potential to increase to 530,000 sq. ft.

The hotel was expected to open in the fourth quarter of 2020 and be operating on a 35 year lease.

'The Dublin hotel market as a whole continues to perform very well and we are pleased that we will be bringing another quality hotel to the city. Today's announcement brings the number of hotels in our development pipeline to 9 with over 2,300 rooms in Dublin and the UK. We remain confident of announcing further new deals in 2019,' the company said.

At 9:27am: [LON:DAL] Dalata Hotel Group Plc share price was -1.25p at 470.5p

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