Profits Soar At Dublin's Shelbourne Hotel
New accounts filed for Kennedy Wilson Shelbourne Operations reveal that profits at Dublin’s Shelbourne Hotel rose to €3.4 million last year, up from a loss of €322,000 in 2015, while turnover increased 12% to €39.7 million.
The Irish Times reports that directors said room prices had been driven up by increased demand, which they attribute to ongoing recovery in the wider economy. They expressed their confidence that the hotel’s strong trading position can be maintained for the foreseeable future “as benefits arising from the increased revenue-generating potential of the hotel and its facilities continue to be realised.”
According to the directors, “The company is dependent on the number of tourists visiting Dublin and the hotel industry is highly competitive, especially in a period when general economic conditions are impacting adversely the tourist, leisure and business sectors.”