Imperial profits double

THE Imperial Hotel, which has opened the only Irish Aveda spa, made a profit of close to €28,000 last year.

The figure is nearly double what the hotel made in 2003, according to accounts just filed at the Companies Registration Office.

The Imperial Hotel, which dates back to 1813, has undergone a major refurbishment in recent years costing €10 million.

The €4m spa took two years to build.

No turnover figure is given for the hotel, though gross profits fell from €1.79m to €1.6m.

The company’s balance sheet shows shareholders’ funds of €5.8m, which is roughly flat year-on-year.

No dividend was paid to the company’s shareholders - Allen and John Flynn.

At the end of 2004, 95 people were employed in the 130-bedroom hotel, down five on the previous year.

The drop in the workforce lowered staff costs from €2m to €1.9m, giving an average salary per employee of just over €20,000.

A note to the accounts said a management services fee of €144,000 was charged to the company by Canewell - a company owned by Allen and John Flynn.

At the end of 2004 a total of €1m was due from Canewell.

The Imperial is part of the Flynn Hotel group, which includes the Park Hotel in Dungarvan, Co Waterford, and the Old Grand Hotel in Ennis, Co Clare.