Doyle Hotels Records Rise In UK Turnover And Irish Revenue
The latest accounts for Doyle Hotels (Holdings) have revealed that turnover at the group's four properties in the UK increased by 11% to €69 million last year.
The accounts show that the group made a pre-tax profit of €11.6 million on turnover of €146.5 million last year and recorded earnings before interest, tax, depreciation and amortisation (EBITDA) of €31.5 million, which was up from €30.4 million in 2017, as reported by The Irish Times.
Revenue from the group's three Irish hotels - The Westbury, The Croke Park Hotel and The River Lee - rose to €57.8 million in 2018 from €54 million in 2017, while revenue at its Dupont Circle property in Washington DC decreased 22% to €19.8 million.
Additionally, Doyle Hotels employed an average of 1,482 people last year, up from 1,383 the previous year; staff costs increased 7% to €54.6 million; directors remuneration increased from €1.1 million to just below €1.3 million; total compensation paid to key management personnel, including the directors, increased close to 5% to just below €2.9 million; and shareholders' funds increased from €323 million to €334 million.
The accounts also indicate that the value of the group's property portfolio rose to €570 million last year from €554 million in 2017.
© 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.