Members-Only Club Residence Reports Losses Of €1.9 Million
It has been reported in the national press that Residence, the members-only club on St. Stephens Green, has filed financial accounts that show its accumulated losses have risen to €1.9 million for the past year.
The club, which was set up in 2008, is currently owned by Olivia Gaynor-Long, who took over from twin brothers Simon and Christian Stokes in 2010.
Gaynor-Long, the sole shareholder, is predicting the club will start to turn a profit soon, and as a result is pledging financial support for another 12 months according to TheJournal.ie via Fora.ie.
Annual membership for Residence costs €850 and the clubs says that there are currently 1,000 members signed up.
It is also home to Restaurant FortyOne which has a capacity of 52 guests, a lounge and garden terrace, a 10-seater boardroom called the Joyce & Wilde, and has a nighttime venue called the Beckett Club which has a capacity of 80.