Merrion Hotel back in pre-tax profit
Published 30/08/2011 | 05:00
THE five-star hotel US President Barack Obama checked into but never stayed at returned to pre-tax profit last year, according to accounts just filed. The Merrion Hotel in Dublin recorded a pre-tax profit of €34,599 in the 12 months to the end of October last year.
This followed Hotel Merrion Ltd incurring a loss of €568,640 in 2009 and €607,500 in 2008. The abridged figures show that the company's gross profit increased marginally from €5.14m to €5.15m last year. However, the company reported a post-tax loss of €28,535.
The Merrion Hotel is controlled by businessman Lochlann Quinn, Glen Dimplex founder Martin Naughton, and the Hastings Hotel Group, the Northern hotel company controlled by Billy Hastings. The losses from previous years resulted in the company having accumulated losses of €2.43m last year with net liabilities of the same amount.
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