Profits at the former Jury's Inns chain drop to €9.72m

Israeli headquartered group increase revenues to €63.77m

The renaming of the hotels from Jury’s to Leonardo in 2022 brought to an end an association between the Jurys name and Irish hotels that dates back to 1839. Picture Dan Linehan

Operating profits at the Leonardo chain of hotels, formerly Jury’s Inn, last year decreased by 6% to €9.72m.

New accounts filed by low cost hotel operator, Fattal Leonardo Operation (Ireland) Ltd - formerly Fattal Jurys Operation (Ireland) Ltd - show that the drop in operating profits coincided with revenues rising by 5% from €60.5m to €63.77m.

The hotel group is owned by Israeli-based Fattal Holding (1998) Ltd and the company operates six hotels in prime city locations in the Republic of Ireland and Northern Ireland.

The most recent addition to the group’s portfolio is the NYX hotel at Portobello in Dublin which opened in December 2023.

However, the group recorded a pre-tax loss of €959,000 in 2025 after incurring finance costs of €10.68m and the bulk of the finance costs at €9.99m were incurred on interest expense on lease liabilities.

The directors stated that they “are satisfied with the level of retained earnings at year end”.

On the risks and uncertainties facing the business, the directors state that “Leonardo Hotels have a low-cost business model, charging its customers rates that vary depending on levels of demand.

They state that “this reduces, though does not eliminate, the financial impact arising from such adverse conditions”.

The company recorded a post tax loss of €1.9m after it incurred a corporation tax charge of €957,000.

The renaming of the hotels from Jury’s to Leonardo in 2022 brought to an end an association between the Jurys name and Irish hotels that dates back to 1839.

It is now nine years since Swedish hotel group Pandox and Fattal Hotels - owned by Israeli billionaire, David Fattal - acquired a hotel portfolio from US private equity group Lone Star for £800 million that included the entire Jurys Inn portfolio along with one hotel at London’s Heathrow airport.

Numbers employed at the Fattal Irish operation decreased from 542 to 501 but staff costs increased by €1m from €17m to €18m.

Pay to directors, including pension payments of €35,000, decreased from €454,000 to €432,000.

The profit also takes account of combined non-cash depreciation costs of €11.79m.

At the end of December last, the firm had accumulated profits of €33.9m while its cash funds increased sharply from €301,000 to €3.06m.

No dividend was paid during the year.

Today, the Fattal Hotel Group operates 329 hotels with more than 58,000 bed rooms in 142 destinations and 22 countries across Europe and Israel.

The brand portfolio includes Leonardo Hotels, Leonardo Royal Hotels, Leonardo Boutique Hotels and NYX Hotels by Leonardo Hotels.

Separate accounts for the Dublin based Pandox Group DAC which owns a number of Leonardo hotel properties here - formerly Jury’s Inn - at Christchurch, Cork, Galway and Belfast show that it recorded revenues of €13.85m in 2025 that include rental income of €10.08m from its Republic of Ireland properties.

The firm made a pre-tax profit of €22.42m after it booked a non-cash increase of €8.42m in the value of investment property.