Five-star hotel plunges into red

The five-star Dylan Hotel in Dublin has plunged into the red, recording a pre-tax loss of €741,690 in its newly released 2010 accounts.

The Dylan Hotel in Dublin was one of two Seamus Ross-owned hotels to go into the red in 2010, with separate accounts for the four-star Dunboyne Castle Hotel and Spa in Co Meath recording a pre-tax loss of €1.1m in 2010.

Mr Ross heads up Menolly Homes and the directors’ report on the 2010 performance of the Dylan Hotel states that “the economic downturn continues to affect the tourism sector and the slowdown has impacted on annual turnover”.