The owners of the four-star Clarence Hotel, which include Bono and the Edge, are not proceeding with a High Court action against a refusal by Dublin City Council to extend planning permission for a €150m proposal to transform the premises.

Plans by Bono and The Edge to revive their parked €150m revamp of Dublin’s Clarence Hotel were stopped in their tracks by Dublin City Council, the High Court heard yesterday.

A battle over plans for a multimillion revamp of the U2-owned Clarence Hotel in Dublin has gone to the High Court today.

Profits at the four-star Clarence Hotel, co-owned by U2’s Bono and The Edge, rose more than ninefold last year to €113,787.

THE Clarence Hotel which is co-owned by U2’s Bono and The Edge returned to profit last year after three years of losses.