Pre-Tax Profits Rise 29% At Dublin's Merrion Hotel
New accounts for Hotel Merrion Ltd have revealed that pre-tax profits rose 29% to €4.14 million at Dublin's five-star Merrion Hotel during the year that ended on October 31, 2018.
Meanwhile, the hotel's revenues rose 10% to a record €25.06 million; accumulated profits increased from €2.74 million to €6.19 million; and the number of people employed by the hotel rose from 296 to 327, with staff costs increasing from €8.8 million to €10.28 million, as reported by The Irish Times.
Dividend And Corporation Tax
The company paid a dividend of €96,567 to its owners last year as well as corporation tax of €596,138.
25% of the Merrion Hotel business is owned by businessman Lochlann Quinn, with billionaire Martin Naughton of Glen Dimplex owning another 25%. The remaining 50% of the business is owned by the Hastings Hotel Group.
© 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.