Travelodge suffers €500k pre-tax loss

The Irish arm of no-frills hotel chain, Travelodge last year plunged into the red to record pre-tax losses of almost €500,000.

The loss recorded by Smorgs (Ireland) Ltd follows only one year after the firm’s two owners, Richard O’Sullivan, from Rathmines, and Seamus McGowan from Foxrock in Dublin, enjoyed a share windfall of €15m from the business.

Mr O’Sullivan, 48, an accountant, received the largest amount through his two-thirds share of parent, Smorgs Ltd while Mr McGowan holds the remaining one-third of shares.