Takeover costs increase Dublin's Westin Hotel losses by 19%

Costs associated with the €65m sale of the five-star Westin Hotel in Dublin last year contributed to pre-tax losses increasing by 19% to just over €3.1m.

The hotel was acquired by US communications billionaire John Malone last year, as part of his purchasing of high-profile Irish hotels.

The final set of accounts for previous owners Westin Hotels Ireland Ltd show that arising from the discontinuing of operations, the firm incurred a €3.5m impairment on assets but enjoyed a €2.3m credit from the release of deferred operating lease provision.