Dalata said the bid undervalued the business.
The Irish group operates 55 hotels in the Maldron and Clayton Hotel brands, of which most are in Ireland and the UK.
Dalata says there are ongoing ‘constructive discussions’ with other bidders who submitted non-binding proposals.
Both Norway-based Eiendomsspar and Sweden’s Pandox have single digit stakes in Dalata.
Pandox AB specialises in the ownership, owns, develops and leasinges of large hotel assets across Sweden and Northern Europe cities including Berlin and Brussels.
Tags: Sweden Northern Europe cities, Pandox AB, Irish hotel group Dalata
