Dublin’s Regency Hotel firm suffers losses of €15.5m

The firm that operates the Regency Hotel in Dublin plunged into the red in 2013 to record losses of €15.5m.

The loss sustained by the company that operates the hotel, Regan Development Ltd, arose from the writing off of €15.89m owed to it by a connected company.

The accounts show that before the exceptional cost is factored in, the firm’s operat-ing profits fell 68% from €1.38m to €432,985.