Shelbourne Hotel books loss as sales soar

Revenues at the firm that operates the five-star Shelbourne Hotel in Dublin soared to €35m last year, as its new owners started to reap the benefits of an overhaul.

However, it posted a pre-tax loss after its new owners hugely increased lease payments paid to a separate firm.

In 2014, US real estate specialists, Kennedy Wilson bought the hotel for €110m when it took control of the property’s debts.