Company in 'much stronger position' as revenues surge more than 300%
US president Joe Biden visiting Aras an Uachtarain in April. The president and his entourage stayed at the Conrad Dublin during his visit: Photograph: Brian Lawless/PA WireA return to normal trading conditions following the lifting of tough public health restrictions saw the company behind the Conrad Dublin hotel bounce back into the black last year after losing more than €3.6 million in 2021.
The Earlsfort Terrace hotel, which housed US president Joe Biden and his entourage on his official visit to the capital in April, was in a “much stronger position” at the end of last year, the directors noted in a report attached to accounts filed recently for ECHP. The hotel, which was sold to Dutch-anchored hotel investor Archer Hotel Capital in 2019 for a reported €118 million, generated profits of €2.5 million in 2022, a significant turnaround from its 2021 loss. Its cash reserves swelled from €4.6 million in 2021 to more than €11 million at the end of December last.
Despite a slow start to 2022 as the Government began to lift Covid-related public health restrictions, the directors said that “activity picked up later in the year as the desire and ability for guests to travel increased.
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