McKillen Jr's leisure group eyes up sales boost of 20pc
REVENUES at Paddy McKillen Jnr's Press Up Entertainment group are estimated to have increased by around 20pc to around €52.6m last year.
According to the group's head of marketing, Laura Arnold, 2017 was "the busiest year for Press Up Entertainment Group to date with the opening of nine new businesses".
She said: "All the businesses in the group traded well in 2017, with increased profitability across the board."
The group currently employs 1,200 people, which is up 30pc on this time last year.
Ms Arnold said that the group's top performers were The Dean, Angelina's, along with new venues which opened last year, including Roberta's and Stella Theatre, which have all exceeded initial revenue projections.
Last year also saw the opening of five new Wowburger outlets, including at Ranelagh, The Square, Tallaght, Parnell Street and Wexford Street in Dublin, as well as the first Wowburger opening outside of the capital in Cork city.
The Press-Up Entertainment group also includes Mr McKillen's Wagamama restaurants here, along with the Everleigh Garden nightclub on Dublin's Harcourt Street and the Workman's Club in Temple Bar, adjacent to the Clarence Hotel.
On the revenues enjoyed in 2017, Ms Arnold said: "We estimate that revenues will have increased approximately 20pc on 2016, with earnings before interest tax depreciation and amortisation (ebitda) expected to finish better in 2017 than 2016."
On this year, Ms Arnold said that the group intended to open the Devlin Hotel in Ranelagh in the summer.
She said that the Devlin would be the only hotel in Ranelagh and would host a roof-top bar and restaurant, 40 rooms and a 50-seater subterranean cinema, screening classic and indie films all week long.
"Longer-term plans are in place for a hotel in Dublin's North Wall Quay, due to be completed in 2019, and we are also back in for planning for a hotel on Dublin's Mount Street," said Ms Arnold
Meanwhile, new accounts show that the exclusive Dublin members' club, the Residence on St Stephen's Green, recorded losses of €101,223 in 2016 before being sold on by businesswoman Olivia Gaynor Long.
That is according to new accounts for Molana Ltd, which reveal that the losses in 2016 were down substantially on the €150,030 losses that had been recorded in 2015.