Conrad Hotel Post First Annual Profits In Four Years
Published on Jan 29 2014 2:53 PM in Hotel
The five-star Conrad hotel in Dublin's Earlsfort Terrace, recorded pre-tax profits of €205,305 in 2012, according to accounts filed.
This a great performance for the hotel, who recorded four years of successive losses previously. In a statement that accompanied the accounts, the hotel said that their full year forecasts "continue to be ahead of plan".
The accounts show that the hotel recorded an operating profit of €660,015 in 2012 that followed an operating loss of €376,095 in 2011. It also showed that Bernard McNamara resigned as director of the hotel in February 2012 after purchasing a 45% share in 2007.
The Irish Independent notes that even in the Conrad's own reports, it is aware that it could lag behind its competitors.
"A failure to continue to invest in its product offering could lead to the Conrad Dublin losing further market share," the company said.
"The board and Conrad management therefore are currently developing plans to address this issue and plan to increase the number of suites and executive rooms, which together with a refurbishment of the food and beverage areas should lead to an increase in its market share."
© 2014 - Hospitality Ireland Magazine by Enda Dowling