Dublin tourist boost helps lift Key Collections profits by a third
Dublin-based accommodation group The Key Collections has seen its profits jump 33pc to €1.2m in 2017.
Revenues at the company increased by more than 22pc to €22.5m during the period, according to a statement.
Group marketing manager Christopher Kenny attributed the positive results to "favourable market conditions in the Dublin hotel market, which resulted in occupancy rates of over 98pc for our Dublin hotels in 2017 and our ongoing acquisitions".
During the year, the company signed a long-term management contract for the 35-bedroom Camden Hotel, which it said was "immediately revenue-enhancing".
Figures from the Central Statistics Office show the number of overseas trips to Ireland increased by 7.6pc year-on-year in the three months to September 30. There was a total of 3,331,000 trips made to Ireland by visitors during the period.
Established in 2012, by Nina Gillett and Sheila O'Riordan, The Key Collections today employs over 300 people .
This year the group added The Exhibitionist and Gainsborough Hotels in South Kensington, London and The Gate Hotel in Dublin to its growing portfolio, bringing the number of hotels from five to seven overall. The group also manages the Kildare Street Hotel and Handel's Hotel in Temple Bar.
In addition, The Key Collections manages and operates a number of serviced apartments for tourists including the IFSC Dublin City apartments, Jervis apartments, and Dorset Street apartments, all of which are located in Dublin.
Elsewhere in Carrick-on-Shannon it operates the Carrick Plaza Suites guest house.