Norges Bank takes 3 per cent stake in Dalata as hotel group bounces back

The hotel group had a recent share price slump but is now benefiting from loosening of pandemic restrictions

Pat McCann, Dalata’s chief executive left, is expected to step down in October of this year, to be replaced by Dermot Crowley right. Picture: Maxwells

Norges Bank, which manages the Norwegian national pension fund, has taken a 3 per cent stake in Dalata, the hotel group, which is worth nearly €24 million at the company’s current share price.

The Norwegian investment fund, which is highly influential on environmental and governance matters, previously held no notifiable stake in the company, according to stock exchange filings.

It comes amid a recent slump in Dalata’s share price, from a high this year of more ...