Revenue almost halved in previous year, accounts say
Accounts for hotel show revenues rose 5% but pre-tax profits declined to €366,271
Lower room rates in New York hotels follow addition of 6,000 hotel bedrooms in city
New York group records 91% occupancy rate, but group profits hit by rising competition
Performance of Irishman’s two New York hotels helped by 90% average occupancy
Irish hotelier plans refurbishment programme for the two US premises
Manhattan hotel group achieved $6.9m discount on Bank of Scotland (Ireland) loans
Strong trade from UK boosted firm’s profits last year to $3.16m
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