Profits Rise at Conrad

 Pre-tax profits at the firm that owns the exclusive five-star Conrad Hotel in Dublin last year increased by 11% to €1.025m.
 According to accounts just filed for the 191-bed hotel, the business enjoyed the rise in pre-tax profits after revenues increased by 7%, going from €12.16m to €12.95m.

 Shareholders last year agreed to inject €2.6m into the business to fund a capital expenditure programme.
The filings by Earlsfort Centre Hotel Proprietors Ltd show that the hotel was revalued and has a book value of €20.7m resulting in a surplus on revaluation of €4.85m.
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The new accounts also reveal that during the year, bank loanswith Nama were refinanced with AIB and all charges held by Nama were satisfied.



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