Co. Cavan’s Slieve Russell Hotel reportedly experienced a pre-tax profit during the year that ended on 30 June 2022.
Details
According to The Irish Times, Slieve Russell Hotel Property Ltd’s latest accounts have revealed that its pre-tax profits increased by 108% during the period, to €5.02 million.
Additional Statistics
The Irish Times also reported that the accounts revealed that, during the period, revenue rose to €16.47 million, from €6 million; the number of people employed by the company grew to 240, from 208; staff costs rose to €7.38 million, from €3.75 million; operating profit was €5.5 million; €489,000 in interest costs brought the venue’s pre-tax profit to €5.02 million; post-tax profit was €4.389 million, following a €643,000 corporation tax; the profit takes account of €856,000 in non-cash depreciation costs; at the end of the period, the hotel’s parent company owed €66.07 million to Irish Bank Resolution Corporation, down by a €2.5 million repayment; profits for the period caused the company’s shareholder deficit to decrease to €41.7 million, from €46.09 million; and its cash funds increased to €6.58 million, from €3.2 million.
Premier Inn To Open New Venue In Dublin
In other Irish hotel news, Whitbread’s Premier Inn hotel chain has reportedly received permission to open a 229-bedroom hotel on O’Connell Street in Dublin.
According to The Irish Times, the company acquired the site in the Clerys Quarter in August 2022, for €21.8 million, and Dublin City Council has now permitted Whitbread subsidiary PI Hotels and Restaurants Ireland Ltd to open the nine-storey venue.
Read More: Premier Inn To Open New Venue In Dublin
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