Profits Decline At Dublin's Clarence Hotel

By Dave Simpson
Profits Decline At Dublin's Clarence Hotel

Accounts recently filed at the Companies office have revealed that profits at Brushfield Ltd, trading as the Clarence Hotel, decreased 23.5% to €764,963 last year.

The leasehold of The Clarence Hotel was acquired by Press Up Entertainment in June of this year. Bono and The Edge of Irish rock band U2 and Paddy McKillen Sr retained ownership of the building in which the hotel is located on Dublin's Wellington Quay following Press Up's acquisition of the venue's leasehold.

The U2 Attraction

The Clarence was purchased by Bono, the Edge and a consortium of investors in 1992 and, according to the hotel's general manager, Michael O'Connor, the venue's association with U2 is a continuing source of fascination to visitors to Dublin. The Irish Times quotes O'Connor as saying, "If I got a euro for every person who comes into the hotel and asks me about U2, I wouldn’t have to work every day."

Room Rates

O'Connor added that the hotel's room rates have fallen as a result of the additional stock of rooms in Dublin, but noted that "when large events are taking place in Dublin, there still aren't enough hotel rooms for every one".

The Clarence is currently seeking permission to increase its room count by 54.

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