Cork's Imperial Hotel sees turnover double in run-up to €25m sale 

Hotel group's turnover increased by 50% to €10.5m in 2022

Imperial Hotel Cork city. Picture David Creedon

Cork city's oldest hotel, the Imperial saw its turnover more than double last year ahead of its sale to veteran Dublin hotel and bar owner, Louis Fitzgerald.

In 2022, the hotel posted a turnover of more than €10.5m, up from €5.24m in the previous year as the hospitality sector rebounded from a covid-induced slump in activity. 

However, the hotel's cost of doing business also jumped notably in the year, increasing from €1.6m in 2021 to more than €2.7m at the end of 2022.

Despite this, the Imperial turned an after-tax profit of €103,700, up from a loss of €2.1m in 2021, with its most recent financial statement affirming that the hotel's directors, John and Allen Flynn, have put in place a "strong management team" capable of dealing with the leading threats to the hospitality industry. 

The Imperial also saw its workforce increase notably in 2022, jumping from 101 to 163 employees, with staff costs increasing from €2.56m to €4.45m in the year. 

Located on Cork's South Mall, the Imperial has a 200-year history and currently boasts 100 bedrooms, bars, restaurants, function rooms, and business suites.

Bought by the Flynn family in 1998 for around €6.4m, the hotel has undergone substantial renovation over the past 25 years and is set to swap hands once again, with its off-market purchase linked to long-serving hotelier, Louis Fitzgerald. 

The second-generation Fitzgerald family group, led by Tipperary-born Louis Fitzgerald, owns up to 20 bars and hotels, primarily in Dublin.

He also owns The Quays in Galway, and two Dublin hotels, the Arlington Hotel on Bachelors Quay, bought for a reported €30m in 2005, and the Louis Fitzgerald Hotel, next to Joel's restaurant on the Naas Road.

The Imperial's long-standing owners, the Flynn Group are also Irish-owned, starting in Waterford in the early 60s before buying the Old Ground in Ennis in 1995. From there, the family made its way to Cork with the purchase of the Imperial and also owns the Park Hotel situated in Dungarvan.

The hotel ended 2022 with an operating profit of €803,500, with a notable rise in interest payments resulting in a decrease from €1.04m in the previous year.