Hastings Hotel Group, the company that is a joint owner of the plush five-star Merrion Hotel, suffered an 18% drop in pre-tax profits to €2.43 million.
The drop in revenue came despite the group increasing its revenues by 4 per cent from £37.59 million to £39.2 million in the 12 months to the end of 31 October last year.
Hastings Hotel Group owns half of the Merrion Hotel through its 50% holding in Landmark Investment Co Ltd; the other half is owned by businessmen and ESB chairman, Lochlann Quinn and billionaire Martin Naughton, who owns the appliance firm, Glen Dimplex.
The Merrion Hotel is located on Upper Merrion Street in Dublin. The hotel comprises a block of four houses in a terrace of which Mornington House is the leftmost (when viewed from the front). The houses were built in the 1760s for wealthy Irish merchants and nobility by Charles Monck, 1st Viscount Monck. He lived in No. 22, which became known as Monck House.
The first of these Georgian houses (No. 24) Mornington House carries the historical gravitas of being the birthplace of Arthur Wellesley, 1st Duke of Wellington. It is half owned by Lochlann Quinn. The hotel also incorporates, as a separate business, Dublin's only two-star Michelin restaurant, Restaurant Patrick Guilbaud.
