Pre-tax profits at the Hodson Bay hotel group last year increased by five per cent to €2.1 million. Controlled by the O’Sullivan family, it includes the four-star Hodson Bay hotel and the four-star Sheraton hotel in Athlone, along with the four-star Galway Bay hotel.
The group also entered the Dublin market last year with the opening of its €50 million 234-bedroom Hyatt Centric hotel at the Coombe near St Patrick’s Cathedral. The new hotel provided the group with a 47 per cent increase in rooms, from 495 to 729. Its Hodson Bay hotel has 175 rooms, with 167 at the Sheraton and 153 at the Galway Bay hotel.
Revenues at the group rose 3 per cent to €31.87 million from €30.9 million in the 12 months to the end of February last.
It recorded operating profits of €3.3m, while net interest payments of €1.22 million meant pre-tax profits of €2.1 million.