Bono and the Edge help Clarence Hotel back to profit

THE Clarence Hotel which is co-owned by U2’s Bono and The Edge returned to profit last year after three years of losses.

However, accounts just filed for the hotel in Dublin’s Temple Bar show that it reduced its accumulated losses only after Bono and The Edge’s Clarence Partnership waived a lease payment of €737,000 due from the hotel last year.

Abridged accounts lodged by the hotel show it reduced its accumulated losses by €11,643 from €2.578 million to €2.566m in the 12 months to the end of December last.