Regency Hotel company profits double to €1m

Operating profits at the firm that operates the Regency Hotel in Dublin more than doubled, last year, to €1m.

However, new accounts show that the hotel firm, Regan Developments Ltd recorded a pre-tax loss of €20.7m after booking a €21m exceptional cost.

According to the directors’ report section of the accounts: “Sales in the hotel remained stable with the prior year…the results in the hotel trade mirror market trends within the Dublin area and based on management accounts positive results are expected to continue”.