Dublin hotel posts pretax loss of €2.3 million

THE COMPANY behind the Trinity Capital Hotel on Pearse Street in Dublin made a pretax loss of €2.3 million in the year to September 2010.

Newly filed accounts for the hotel’s holding company, which is controlled by brothers Liam and Des O’Dwyer, show that the loss was significantly lower than the €9 million loss posted in 2009. The company made an operating loss of €487,000 during the year.

The auditors’ report notes that the company had a net current liability position of €30.6 million at year end. The company had a bank loan of €30 million due within one year.

A separate company, Mataking, the holding company for the Grafton Capital Hotel, made a loss of just under €630,000 during the period between March 18th, 2009, and September 26th, 2010. A spokesman for the company said the hotels were trading well in light of the difficult environment, adding that the losses were due to property-related writedowns.

Liam and Des O’Dwyer are the former owners of a group of Dublin bars, including Cafe en Seine and Howl at the Moon, which entered receivership in late 2009. Notes to both sets of accounts state that the companies are dependent on the continued support of their bankers.