Hoteliers pay €2m to end Four Seasons agreement

The former owners of the five-star Intercontinental Hotel in Dublin last year paid €2m in order to terminate its operating agreement with Four Seasons.

The payment by London & Regional to the Toronto-based global hotel group chain is disclosed in new accounts filed by Ballsbridge Hotel that operates the five-star hotel in Dublin 4.

The accounts for 2014 – just lodged with the Companies Office – show that the €2m payment pushed the business into the red, to record a pre-tax loss of €1.874m.