Morrison's 'phenomenal' year after €7.5m revamp
DUBLIN'S Morrison Hotel is having a 'phenomenal' year after re-opening last February following a €7.5m refurbishment, its manager said.
The Morrison was purchased last year by Russia's richest woman, self-made billionaire Elena Baturina, for over €20m from NAMA.
New accounts show the hotel recorded pre-tax profits of €287,607 in 2012, its first year in operation under new owners.
Financial accounts lodged by Martinez Ltd with the Companies Office show the firm recorded the pre-tax profits in the period between March 1 and December 31, 2012 on a gross profit of €2.99m.
This year profits are up further, on the back of a 25pc rise in turnover, according to general manager Patrick Joyce. But he declined to disclose the latest figures.
"We are very happy with the numbers. Our occupancy and room rate is up. Since May, our occupancy levels have been over 80pc and that is putting it conservatively," he said.
Mr Joyce said the profits for the hotel last year would have been higher but the hotel closed between November and February for refurbishment, which saw work to all 138 bedrooms and the hotel lobby, bar and restaurant.
"People have a great affinity with the hotel. We are happy with the refurbishment – it has been very well received. We did need to refresh the product here," Mr Joyce said.
Earlier this year, the hotel signed a partnership deal with DoubleTree by Hilton.