Doyle Collection Records €2m Increase In Turnover In 2016
Turnover at luxury hotel firm the Doyle Collection increased by €2 million to €135 million in 2016.
As reported by The Irish Times, 44% of the Doyle Collection's revenues come from the British market, while 19% are generated by Washington DC's Dupont Circle hotel. However, the group's turnover wasn't adversely impacted last year by either the devaluation of sterling post-Brexit or a weaker dollar.
In the Republic of Ireland, the Doyle Collection runs both the Westbury and Croke Park hotels in Dublin and the River Lee in Cork, which collectively generated revenues of €49.3 million.
The company also recorded a fall in after-tax profits from €31.1 million in 2015 to €5.6 million in 2016 due to the revaluation of its properties, with operating profit from continuing operations dropping from €52.7 million to a little below €15 million. Additionally, earnings before interest, tax, depreciation and amortization remained the same year-on-year at €26.3 million and shareholder funds decreased from €330 million to just under €292 million.