A five-star Dublin hotel that has accommodated pop superstar Kylie in the past plunged further into the red in 2011 to record losses of €1.56m, writes Gordon Deegan.
The Dylan Hotel was one of two Seamus Ross-owned hotels to go further into the red in 2011 with separate accounts for the four-star Dunboyne Castle Hotel and Spa in Co Meath recording a loss of €650,599 in 2011.
Mr Ross heads up Menolly Homes and a note concerning the 2011 performance of the Dylan states: "The company is continuing to make losses subsequent to the year end. Management is actively managing costs and seeking to make savings where possible.
The company is also taking steps to generate new business."
It says the company requires the ongoing support of a key creditor to continue as a going concern.