The firm which operates Cork's historic four star Imperial Hotel recorded pre-tax profits of €1.7m in the 18 months to the end of June last.
During the 18 month period under review, Louis Fitzgerald and Helen Fitzgerald purchased the hotel from the Flynn Hotel Group for a reported €25m in June 2023.
The Louis Fitzgerald group owns and operates some of Dublin's best-known pubs including The Stags Head, Kehoes and Bruxelles as well as two hotels - The Louis Fitzgerald Hotel and The Arlington Hotel.
New accounts show that Imperial Hotel (Cork) Ltd recorded revenues of €17.25m in the 18 months to the end of June last. This compares to revenues of €10.5m for the prior 12 months.
The hotel firm's pre-tax profit of €1.7m for the 18 month period compares to a modest pre-tax loss of €11,387 for the prior 12 month period.
The company's operating profits more than doubled from €803,544 to €1.8m.
The business last year benefited from much lower interest payments of €86,953 compared to €814,931 for the prior year.
The hotel celebrated its 200th anniversary more than a decade ago and the South Mall property has 125 bedrooms.
Guests have included Charles Dickens and Daniel O’Connell and most famously, Michael Collins spent his last night in Room 115, before meeting his fate at Béal na Bláth on August 22, 1922. The hotel today includes a Michael Collins Suite.
A breakdown of revenues shows that it recorded income of €10.23m from accommodation, €3.15m from food, €1.86m from bar, €1.63m from Spa and €352,697 from other sales.
A note states that other sales comprises revenues from car park rentals, conference room hire, and porterage services.
The profit last year takes account of non-cash depreciation cost of €1.1m.
Numbers employed remained at the same level at 165 with staff costs increasing from €4.46m to €6.58m.
Illustrating some of the costs faced by hotels, the accounts show that its rates bill for the period totalled €406,976 while insurances totalled €304,416. The hotel’s cleaning bill totalled €357,549 while hotel commissions totalled €963,006.
The parent firm of Imperial Cork Hotel Ltd is the Fitzgerald Cregagh Investment Company UC which show that revenues totalled €107m for the 12 months to the end of June 2024.,
Pre-tax profits at Cregagh increased by 38% to €20.62m.
Numbers employed by Cregagh last year increased from 1,240 to 1,255 as staff costs increased from €27.25m to €33.59m.
Directors' pay decreased from €1.1m to €833,530.
Reporting by Gordon Deegan
