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 â‚¬31,834 last year as revenues rose 7% from â‚¬14.68 million to â‚¬15.69 million.
As reported by The Irish Independent, Torriam's operating profit increased by 55% from â‚¬47,200 to â‚¬73,734 last year, with the pre-tax loss arising as a result of interest charges of â‚¬105,568. Additionally, the number of staff employed by the firm fell from 540 to 538 last year, with staff costs amounting to â‚¬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 â‚¬3.8 million last year and increased room rates at the Shelbourne resulted in revenues rising 5% from â‚¬39.7 million to â‚¬41.7 million.
Â© 2018Â Hospitality IrelandÂ â€“ your source for the latestÂ industryÂ news. Article by Dave Simpson. ClickÂ subscribeÂ to sign up for theÂ Hospitality IrelandÂ print edition.