Harcourt Hotel and club owners' pay rises to €716,000
THE couple who operate Dublin's Harcourt Hotel shared a pay pot of €715,979 last year, new figures show.
The increase of 20pc for Brian and Sally McGill, who both turn 67 this year, came as pre-tax profits declined by 32pc to €506,340 in the 12 months to the end of June last year.
This is in spite of gross profit at the company that operates the hotel increasing by 2pc.
The Harcourt Hotel, which houses the Dtwo nightclub, is one of a string of profitable hotels incorporating entertainment venues on the Harcourt Street strip.
The nearby Copperface Jacks in the Jackson Court Hotel recorded profits of €6.8m last year. The Russell Court hotel housing Krystle nightclub had profits of €574,731 in 2011.
Mr McGill is from Glenties, Co Donegal, and the hotel was a favourite for Donegal football fans as the team marched to their All-Ireland win in Dublin last year. The number of people employed at the hotel last year increased from 96 to 110.
Concerning the risks facing the firm, the directors said "the current economic climate in which the company operates has resulted in decreased revenues in the last four years and the climate remains extremely challenging".
At the end of June last year, the firm's accumulated profits totalled €14.63m. The profit last year takes account of non-cash depreciation costs of €192,334. Staff costs increased to €3.1m.
Mr McGill is also a director of the Bridge House Hotel in Co Offaly, and separate filings show the firm operating it recorded pre-tax profits of €113,130 last year after it increased its gross profit by 6.5pc to €7.33m.