Imperial Hotel posts €581k losses

CORK’S oldest hotel, The Imperial, recorded pre-tax losses of €581,319 last year compared with profit of €214,716 in 2008.

However, accounts for The Imperial Hotel (Cork) Limited showed that in the future the company expects to show increased turnover and profits from its activities.

“The directors are currently in the process of reviewing the treatment of all assets held on a group-wide basis to ensure consistency between group companies,” the accounts read.

The directors paid an interim dividend amounting to €28,444 according to the accounts and they do not recommend payment of a final dividend.

The hotel is located in the centre of Cork city on the South Mall.

Gross profits were down from €3.3m to €2.2m. The company recorded an operating loss of €467,287 compared with an operating loss of €421,048 in the year to the end of December 2009.

Staff numbers at the hotel fell last year from 143 to 125 at the end of 2009. This resulted in staff costs falling from €3.5m to €2.8m.

The accounts show €1,714,045 is due from Canewell Company, the hotel’s parent company, at December 31, 2009.

The Imperial Hotel, dates back to 1813.

Recently the hotel opened the Fish Hatch — an outlet serving up premium cooked to order fresh fish and chips, just around the corner from its South Mall entrance.