Profits Rise To €500,000 At Dublin's Clarence Hotel
Brushfield Ltd, trading as the four-star Clarence hotel in Dublin’s Temple Bar, has recorded profits of €500,000 for 2016.
According to The Irish Independent, Clarence general manager Michael O’Connor asserted, “We had a very busy year here last year and management and directors are very pleased with the business and the positive results.”
O’Connor also said that the hotel is “enjoying very high occupancy rates” and that plans are in place to refurbish its bar in the near future.
2016 represents the seventh consecutive year of profits for the Clarence hotel, which was purchased by U2’s Bono and the Edge and a consortium of investors in 1992.
The amount owed to connected parties decreased from €1.85 million to €753,930 last year, while accumulated losses dropped from €1.48 million to €989,941 and employee numbers rose from 37 to 39, with staff costs increasing to €964,016.