Pretax profits at the five-star Merrion Hotel in Dublin last year increased by 20 per cent to €4.22 million on the back of record revenues.
New accounts filed by Hotel Merrion Ltd show that revenues increased by 7 per cent from €31.88 million to €34.2 million in the 12 months to the end of October last.
In a note with the results the directors said that “during 2025, we have consolidated our position as one of the pre-eminent five-star hotels in Dublin and Ireland through ongoing targeting of existing markets and identifying new areas of growth”.
Both occupancy levels and average rates grew during the financial year, the financial report said.
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Business levels remain strong for the company, according to the report, with demand for future dates consistent with previous years.
The buoyant year for the business allowed the firm to repay €3 million in loans to shareholders, with Belfast-headquartered Hastings Group entity HHG No 10 Ltd receiving €1.5 million; Lochlann Quinn, a director, receiving €750,000 and the late businessman and shareholder Martin Naughton receiving €750,000.
The accounts, though only filed in recent days, were signed off in March by board members Lochlann Quinn and John Edward Carson.
The pretax profits of €4.22 million last year follows pretax profits of €3.53 million in 2024.
Operating profits increased 10 per cent to €5.08 million and interest payments of €859,325 reduced profits to a pretax profit of €4.22 million.
The firm recorded a post tax profit of €3.47 million after incurring a corporation tax charge of €746,696.
The hotel’s accommodation revenues last year increased by 6 per cent from €19.92 million to €21.07 million, while food and beverage revenues increased 10 per cent, from €10.12 million to €11.19 million.
Leisure centre revenues totalled €916,727 while rental income amounted to €471,308. Other income totalled €553,869.
The hotel comprises 123 rooms and 19 suites and is co-owned between the Northern Ireland Hastings Hotel group, the late Martin Naughton and members of Lochlann Quinn’s family.
Numbers employed increased from 373 to 381 as staff costs rose by 7 per cent from €13.76 million to €14.74 million.
Directors’ pay remained at the same level at €160,000.
The pretax profit last year takes account of non-cash depreciation costs of €1.95 million. The firm’s cash funds decreased from €3.48m to €2.27 million. Shareholder funds totalled €4.74 million.
