The Pandox Consortium has increased its stake in Dalata Hotel Group.
Dalata operates 55 hotels under the Maldron Hotel and Clayton Hotel brands, mostly in Ireland and the UK, and aims to open new hotels in Europe including in Berlin and Madrid.
Having put itself on the market in March, Dalata received a takeover bid from the Scandinavian consortium earlier this month.
However it rejected that - saying it undervalued the business and its prospects.
Pandox has now increased its stake to 9.6% - though Dalata says it has not submitted any further offer.
