Hotel Group see losses of €75m

THE Doyle Hotel Group saw pre-tax losses jump to €75.5 million last year following impairment charges of just more than €57m on hotel properties.

The losses for the year to the end of 2009 compare with pre-tax losses of €36.1m in 2008. Operating profit before exceptional items was €3.5m compared with €10.6m in 2008.

Accounts for Doyle Hotels (Holdings) Ltd also show an impairment on investment properties of €5.4m.