Dylan Hotel records €654k profit
Published 11/09/2015 | 02:30
Profits at the firm that operates the five star boutique Dylan Hotel totalled more than €12,500 per week last year.
The five-star hotel, based in Dublin, is a favourite hangout for Irish celebrities and has played host to international stars such as Kylie Minogue.
Accounts filed by Lyndonmont show that the firm recorded profits of €654,261 in the 12 months to the end of December last.
The hotel benefits from its close proximity to the city centre, the Aviva Stadium and the RDS.
The accounts show that at the end of December last the firm had cash of €586,551 while the amount owed by debtors totalled €1.78m.
The balance sheet shows that the value of the company's tangible assets totalled €68m while debts were €7.72m.
The directors of the firm are listed as Alan Adams and William McGreal.
The exclusive hotel is benefiting from the general boom in business for Dublin hotels.
A report by PwC this year predicted that Dublin will record the highest growth in revenue per available room (RevPAR) of 8.8pc this year, followed by Madrid with 5.6pc and London at 4.6pc.
PwC also forecast that in 2016, Dublin's 152 hotels will top the growth story yet again, with an 8pc rise expected, followed by Madrid, London, Rome, Milan and Barcelona.