Following an independent valuation of Dublin's Red Cow Moran Hotel by Savills that was disclosed in accounts that indicate that the venue recorded an operating profit of €532,598 in 2017, the property's book value has increased by €22.3 million to €48.5 million.
The 2017 accounts also reveal that the hotel recorded revenues of €12.4 million that year, as well as a pretax loss of €256,785 after €789,383 in interest payments are taken into account, as reported by The Irish Times.
Accumulated Profits, Cash Pile And Staff Statistics
The venue had accumulated profits of €12.7 million at the end of December 2017, while its cash pile decreased from €2.9 million to €1.88 million and the number of people employed by the hotel rose from 127 to 181, with staff costs coming to €4.29 million and directors' remuneration totalling €395,566.
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© 2019 Hospitality Ireland – your source for the latest industry news. Article by Dave Simpson. Click subscribe to sign up for the Hospitality Ireland print edition.