Profits Soar At Dublin's Five-Star Merrion Hotel
New accounts filed with Merrion Hotel's registration office show that pre-tax profits at the Dublin venue rose more than €1 million to €3.42 million during the financial year ending in October of 2016.
As reported by The Irish Times, a 15% rise to €14.01 million in accommodation turnover was the main contributor to the company's strong performance, with an increase in turnover for food and drink also helping to boost figures. Meanwhile, leisure centre turnover underwent a slight decrease, but had no major impact on the hotel's total turnover of €21.5 million.
The accounts also indicate that Hotel Merrion Ltd paid tax of €511,875 during the period and had cash in hand of €63,080, with a bank overdraft of €1.9 million at the end of October 2016. Additionally, wage costs increased by 4% to €7.23 million, while after-tax profit amounted to €2.9 million.