Operating profits at the group that operates the Radisson hotels at Dublin and Shannon airports last year increased by 54% to €1.4m, according to a report by Gordon Deegan in the 'Iri
The CG Hotel Group purchased the hotels at Dublin and Shannon, along with a third former Great Southern hotel at Cork Airport, for around €75m from the Dublin Airport Authority in 2006.
Last year, the group sold the Cork Radisson Blu hotel to iNua Hospitality. The accounts state that the hotel, that was guiding at €8m, was sold at a profit.
The new accounts show CG Hotels Ltd and subsidiaries enjoyed an increase in business in the 12 months to the end of December last, with revenues going up by 10%, from €12.39m to €13.65m.
The firm recorded pre-tax profits of €844,630 after net interest payments of €560,000 are taken into account.