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Pre-Tax Profits Rise 29% At Dublin's Merrion Hotel

Published on Sep 25 2019 11:05 AM in Hotel tagged: Trending Posts / Merrion Hotel

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.

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