Dunne bucks economic trend to turn a profit at D4 Hotel group
Developer Sean Dunne is one of the few hoteliers in Dublin who is managing to turn a profit as fierce competition over hotel rates continues.
Mr Dunne owns three properties in Ballsbridge and turnover at his hotel group, MJBCH, has almost doubled from €6.6m to €12.9m, with Mr Dunne converting previous losses into a €2.3m profit.
Mr Dunne states that the company needs to be careful about demand from customers and the pricing of rooms, but the directors have "pleasure'' in presenting the results, covering the year ended July 2009.
Mr Dunne is associated with D4 Hotels which owns the Ballsbridge Inn, Ballsbridge Towers and D4 Berkeley, formerly known as the Berkeley Court Hotel.
The group is famous for slashing hotel rates in the Dublin market, which has irritated some other hoteliers.
This week the D4 Berkeley was offering rates of €69 per room.
Accounts for MJBCH, located at Mr Dunne's chief Dublin office in Merrion Square, show it employed 111 staff, with nine of these in management position.
The annual staff costs came to €2.1m.
It was reported last year that Mr Dunne had surrendered a significant stake of his prime Ballsbridge hotel sites to the banks that helped him spend €379m on the properties at the height of the boom.
Mr Dunne and his wife Gayle Killilea are currently trying new ventures in the US.