Profit jumps at tourist accommodation group The Key Collections
Dublin-based accommodation group The Key Collections has seen its profit jump 33pc to €1.2m in 2017.
Revenues at the company increased by over 22pc to €22.5m during the period, according to a statement from the company.
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."
Established in 2012, The Key Collections today employs over 300 people across all of its properties and in its head office.
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 Handels Hotel in Temple Bar.
In addition, The Key Collections manages and operates a number of apartment blocks including the IFSC Dublin City apartments, Jervis apartments, and Dorset Street apartments, all of which are located in Dublin.