Malone’s Trinity City Hotel boosts profits by 54%

Trinity City Hotel, one of the Dublin hotels owned by US billionaire John Malone, the Virgin Media and TV3 owner, boosted pre-tax profits 54% to €2.83m last year.

The company’s profits take into account interest charges of €1.97m and a non-cash depreciation charge of €1m.

Staff numbers at the Pearse Street hotel increased from 90 to 95, while staff costs increased from €2.3m to €2.56m. Senior managers were paid €483,219.

At the end of last year the hotel firm, Trinity Leisure Holdings Ltd had accumulated profits of €5.7m and its cash pile had fallen from €2.6m to €1.6m.

In separate accounts, another hotel owned by Mr Malone, posted a 28% increase in profits to €3m.

The Hilton Dublin hotel located on the Grand Canal is one of a number of hotels that Mr Malone purchased in a spending spree at low prices during the slump.

He had bought the Westin Hotel on College Green and the InterContinental in Ballsbridge, as well as the Spencer, Morgan and Beacon hotels. The directors of Charlemont Leisure Investments Ltd trading as Hilton Dublin said it traded well through 2017.

The directors state that they “are confident in the hotel’s prospects”. Staff numbers at the Hilton increased from 92 to 102, while staff costs increased from €2.76m to €3m.

Senior managers received €190,017 in pay. Trinity Leisure Holdings Ltd had accumulated profits of €5.7m. The company’s cashpile reduced from €2.6m to €1.6m.

Its cashpile increased from €3.4m to €4.4m at the end of December.

More in this Section

Men paid 56% more than women at Goldman Sachs International

Brexit poses 'material risks' to financial system, Bank of England warns

Bank of England to maintain interst rates, but May hike 'still in play'

Bus Eireann lose out on six bus routes between Kildare and Dublin

Today's Stories

Hockey: Bandon bidding to complete first leg of treble

Kieran Bermingham: Na Piarsaigh give every game ‘best shot’

Impressive growth but no rush to hike interest rates


The biggest cancer killer will take your breath away

Hopefully she had an idea...

Power of the press: Meryl Streep and Tom Hanks discuss 'The Post'

More From The Irish Examiner