Shelbourne Hotel Management Firm Records Pre-Tax Loss For 2016
New accounts filed by Torriam Hotel Operating Company Ltd, the company that manages Dublin's Shelbourne Hotel, have revealed that the firm recorded a pre-tax loss of €31,834 last year as revenues rose 7% from €14.68 million to €15.69 million.
As reported by The Irish Independent, Torriam's operating profit increased by 55% from €47,200 to €73,734 last year, with the pre-tax loss arising as a result of interest charges of €105,568. Additionally, the number of staff employed by the firm fell from 540 to 538 last year, with staff costs amounting to €14.3 million.
KW Shelbourne Ops
Meanwhile, pre-tax profits at KW Shelbourne Ops Ltd, the company that retains Torriam to operate the Shelbourne hotel, decreased by 3% to €3.8 million last year and increased room rates at the Shelbourne resulted in revenues rising 5% from €39.7 million to €41.7 million.
© 2018 Hospitality Ireland – your source for the latest industry news. Article by Dave Simpson. Click subscribe to sign up for the Hospitality Ireland print edition.