Hotels

Killarney Hotels cuts losses

Pre-tax losses declined by 19% to €6 million at Killarney Hotels Ltd last year.
The group's revenues rose 29% to €22.29 million in the wake of the post-refurbishment reopening of The Dunloe Hotel.
Owned by the Liebherr family, Killarney Hotels Ltd operates both The Europe Hotel and Ard na Sidhe Hotel as well Dunloe Hotel.
The group employs 242 people.
 europe1119

Talbot Group faces 'challenges'

New figures filed by Torski Ltd, the business behind the Talbot Hotel Group and Pettitt's supermarkets, show a decline in pre-tax profit   of 1.7% to €6.24 million last year.
The company's directors say that its hotel division traded well last year, but  that "going into 2019, the hotel division faces big challenges in the form of high insurance costs, a VAT increase and Brexit."
The company's revenues dropped from €130 million to €129.97 million and the number of people employed by the firm increased from 1,026 to 1,058.
 talbot1119

Best Western now BWH

BWH Hotel Group has launched in Ireland and is targeting Irish hotel owners, developers and investors in all market segments with a new-look brand portfolio.bwh1019
 Formerly Best Western Hotels & Resorts, the group recently rebranded to BWH Hotel Group to demonstrate how the brand has changed and emerged significantly over the past number of years. BWH Hotel Group recently acquired renowned global hotel brand WorldHotels™ representing a collection of approximately 300 unique and special hotels and resorts in premier destinations around the world, which will play a critical role in enhancing BWH’s portfolio of offerings to include the upper upscale and luxury segments.
 The Group has launched an awareness-building campaign to demonstrate the brand’s evolution to Irish hotel owners, developers and potential investors, and aims to have 10 hotels in Ireland within five years targeting both existing properties and new builds with at least 75 rooms in both the Republic and Northern Ireland.

 

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TMR buys Tallaght hotel

A Dublin hotel, that has been shut for close to a decade, has been bought by an Austrian investor.tallaghtcross111p
TMR Hotel Collection announced today that it had acquired the 186-bedroom Tallaght Cross Hotel.
They are planning a "multi-million euro refurbishment" of the hotel and plan to open it as a four-star hotel in early 2020.
TMR Hotel Collection said the opening will create 70 jobs and it is the third hotel purchase by the group this year.

 

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€2.9m profit at Slieve Russell

The  Slieve Russell Hotel in Co Cavan, once owned by Sean Quinn, has seen its pre-tax profits increase more than three fold to €2.9m in the last year.slieverussell1019
New accounts show that Slieve Russell Hotel Property Ltd recorded the increase as a result of the reversal of a €2.37m prior year non-cash impairment.
Revenues at the hotel company last year dropped marginally from €14.8m to €14.66m.
 With the collapse of the Quinn empire, the Irish Bank Resolution Corporation (IBRC), assumed control of the Slieve Russell when a share receiver was appointed to the hotel firm in April 2011.
 
 

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