Press Up-operated property had recorded a loss of €1.2m in Covid-hit 2021
Bono, The Edge and Paddy McKillen snr retain ownership of the hotel building.
During the early part of the year under review, the hospitality sector remained subject to Covid-19 restrictions. A note attached to the accounts observes that hotels resumed trading on June 2nd, 2021 and bars and restaurants reopening on June 7th, 2021 for outdoor trading. The accounts show that the company received €515,597 in State Covid-19 support grants in 2022, and €430,235 in 2021.Numbers employed by the hotel firm last year increased from 17 to 31 as staff costs grew from €206,081 to €903,928.
The profit for last year resulted in the company having accumulated profits of €20,565 at the end of May 2022.The hotel sector in the Temple Bar area continues to be buoyant, with two separate hotel planning applications before Dublin City Council. In one case, the owner of The Temple Bar pub, Tom Cleary’s Chambers Properties Ltd, is seeking permission for a six-storey 47-room boutique hotel facing on to Dame Street and Eustace Street. Separately, Ampbay Ltd is seeking to increase the size of the Paramount Hotel on Parliament Street from a 66 -room hotel to a 108-room property.
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