Debt write-off helps Dunboyne Castle Hotel report €3.3m profit

A FOUR-STAR hotel owned by Menolly Homes boss Seamus Ross recorded an operating loss of €1.7 million in 2009.

However, new accounts just filed for the Dunboyne Castle Hotel and Spa in Co Meath show that the company recorded a pre-tax profit of €3.3m in the 12 months to the end of June 2009.

This followed Fylan Collection Ltd, that operates Dunboyne Castle, writing off a debt of €5.2m owed to Menolly Homes. Sister hotel, the five-star Dylan Hotel in Dublin, was also able to record a pre-tax profit in 2009 of €5m after a €7m debt to Menolly Homes was forgiven.