Hotel group’s operating profits rise to €26m

Operating profits at the Moran Hotel Group last year went up by 14% to €25.94m after the group enjoyed an increase in revenues.

Figures filed with the companies office show that T&S Taverns Ltd recorded the €3.2m increase in operating profit after revenues increased by 10%, from €81.36m to €89.6m, in the 12 months to January 31, 2013.

The group — headed by Limerick businessman Tom Moran — recently restructured its finances, striking a deal with its lenders that resulted in the group’s debt burden reducing from €700m to around €225m.