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Dublin's Marlin Hotel Experienced A Loss Last Year

Published on Nov 15 2021 8:36 AM in Hotel tagged: Trending Posts / Marlin / John Corless / Dublin Letting and Management Ltd

Dublin's Marlin Hotel Experienced A Loss Last Year

Dublin's Marlin Hotel in Dublin experienced a loss last year.

As reported by The Business Post, accounts filed with the Company Registration Office show that the hotel recorded a net loss of €3.45 million for 2020, which followed a net profit of a little less than €60,000 in 2019.

During the year, Irish businessman John Corless, who owns the company that runs the 300-bedroom Marlin Hotel, Dublin Letting and Management Ltd, reportedly pumped €210,000 into the business after it issued new C shares to raise fresh equity.

Additional Figures

The accounts reportedly show that the net book value of the hotel increased slightly last year to a little more than €63 million.

The accounts reportedly show that employee numbers at the hotel increased from 11 in 2019 to 33 people last year, and the company reportedly received government funding of over €0.25 million last year through various COVID-19 supports including the Temporary Wage Subsidy Scheme (TWSS), the Employment Wage Subsidy Scheme (EWSS) and the COVID Restriction Support Scheme as well as other business restart grants.

Overall, the Marlin Hotel reportedly has bank borrowings of €40 million, and the amount of cash in the bank reportedly increased from €302,453 in 2019 to just over €1.2 million at year-end 2020.

Aungier Street Development

After the completion of the hotel in 2019, Marlin group was reportedly granted planning permission by Dublin City Council to develop 20 serviced apartments as well as a bar and restaurant on Dublin's Aungier Street, and the development reportedly also includes a health and wellness centre, which will reportedly connect to the Marlin Hotel.

© 2021 Hospitality Ireland – your source for the latest industry news. Article by Dave Simpson. Click subscribe to sign up for the Hospitality Ireland print edition.

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