Merrion Hotel profits top €2.35m in record year

The luxury five-star Merrion Hotel in Dublin enjoyed a strong performance in 2015, with revenues and occupancy reaching record levels.

Latest accounts show operating vehicle Hotel Merrion Ltd generated pre-tax profits of €2.35m last year, up by 63% on the previous 12 months.

Revenues grew by 11% to €19.6m, with the average revenue per room (including ancillary revenues like bar and food products) amounting to €138,130 for the year, or €378 per night.

Well-known Northern hospitality group Hastings Hotels, which owns Belfast’s Europa and Culloden hotels, owns 50% of the Merrion, with the remainder owned by prominent businessmen Lochlann Quinn and Martin Naughton.

A dividend of €102,422 was paid to shareholders last year, up from €96,083 in 2014.

Numbers employed by the hotel grew, marginally, from 281 to 286; with staff costs rising from €7.2m to €7.88m.

The hotel comprises 123 rooms and 19 suites. In the accounts, the company’s directors said: “The near-term outlook remains strong and we believe we can maintain revenues and profitability.”

Online advertised room rates at the hotel currently range from €295 for a ‘standard queen’ room to €3,200 per night for the Penthouse Suite.

The hotel posted an operating profit of €2.36m last year.

Post-tax profits amounted to €1.94m, after €411,469 was paid in corporation tax.