The four-star boutique hotel in Dublin co-owned by U2 recorded profits of €400,000 last year.

U2’s four-star boutique hotel, the Clarence, has had “a great year” in 2014 after recording the fourth successive year of profits last year.

U2 still have not found the profits they are looking for at the Clarence Hotel in Dublin – losses have more than doubled to €1.1m.