The Morrison Hotel on Dublin's Ormond Quay is having a 'phenomenal' year after re-opening last February. Last year the hotel had a €7.5 million renovation after it was purchased by Russian billionaire Elena Baturina for €20 million from Nama.
New accounts reveal that the hotel recorded pre-tax profits of €287,607 in 2012.
Financial accounts lodged by Martinez Ltd with the Companies Office show that the establishment recorded the pre-tax profits in the period between March 1 and December 31, 2012 on a gross profit of €2.99m.According to general manager Patrick Joyce, this year profits are up further, on the back of a 25% rise in turnover.
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Enjoy full access to Hospitality Ireland, our weekly email news digest, all website and app content, and every digital issue."We are very happy with the numbers. Our occupancy and room rate is up. Since May, our occupancy levels have been over 80% and that is putting it conservatively. People have a great affinity with the hotel. We are happy with the refurbishment – it has been very well received. We did need to refresh the product here," Mr Joyce said to the Irish Times.
