Value Of Dublin’s Shelbourne Hotel Decreases

Newly-published accounts for European arm of the company that owns Dublin’s Shelbourne Hotel, US property investment group Kennedy Wilson, have revealed that the value of The Shelbourne has decreased.

According to The Irish Independent, the accounts reveal that The Shelbourne was valued at £176.4 million at the end of 2020. At the end of 2019, the hotel was reportedly valued at £186.3 million.

The valuation placed on The Shelbourne at the end of last year reportedly assumes a normal operating environment and occupancy of 89%.

Revenue And Sales

Accounts for Kennedy Wilson Europe Real Estate reportedly reveal that The Shelbourne generated revenue of £10.7 million in 2020.

According to The Irish Independent, accounts for a separate company, KW Shelbourne Ops, revealed that The Shelbourne generated revenue of €42 million in 2019 and experienced a post-tax loss of €632,000 that year.

The Shelbourne reportedly generated revenue of €44 million in 2018 and made a €4 million profit that year.

The 2020 revenue figure would have accounted for just a small part of the year because hotels were closed for much of last year due to the COVID-19 pandemic.

The cost of The Shelbourne’s sales last year reportedly was £16.8 million and it made a loss of £10 million last year.

According to The Irish Independent, Kennedy Wilson Europe Real Estate’s accounts note, “The board is pleased with the performance of the group during the year, despite the challenges arising from the COVID-19 global pandemic.”

Kennedy Wilson Europe Real Estate Information

Kennedy Wilson Europe Real Estate has assets in Ireland, the UK, Italy and Spain.

It reportedly said that gross revenues decreased to £208 million from £132 million last year, mainly due to the sale of a number of hotel and commercial assets.

Original article by Dave Simpson on hospitalityireland.com

Stay up to date

Latest News

  • Retention of 9% VAT rate “crucial” to tourism industry
    Retention of 9% VAT rate “crucial” to tourism industry

    Dublin’s Ashling Hotel has welcomed the Government announcement that the 9% VAT rate will be retained for a further six…

    7 March, 2023

  • The Old Punch Bowl Of Dublin Hits The Market
    The Old Punch Bowl Of Dublin Hits The Market

    The Old Punch Bowl of 116 Rock Road, 1 Booterstown Avenue, Booterstown, Co. Dublin, has hit the market.   Details…

    7 March, 2023

  • Bar Sales Increased Year On Year In January
    Bar Sales Increased Year On Year In January

    According to the Retail Sales Index January 2023 (Provisional) and December 2022 (Final) report from the Central Statistics Office (CSO),…

    7 March, 2023

  • Ireland’s First ‘World French Restaurant’ Awarded To Chez Max
    Ireland’s First ‘World French Restaurant’ Awarded To Chez Max

    Chez Max, Dublin’s answer to a traditional French bistrot, and Chez Max Café became Ireland’s first restaurant to be awarded…

    7 March, 2023

  • The Dean Expands Its Dublin Footprint With The Dean Townhouse
    The Dean Expands Its Dublin Footprint With The Dean Townhouse

    Following the launch of The Dean hotels on Dublin’s Harcourt Street and in Cork and Galway, a new extension of…

    7 March, 2023

  • Dublin Airport’s Passenger Traffic Increased Year On Year In February
    Dublin Airport’s Passenger Traffic Increased Year On Year In February

    The number of people who passed through Dublin Airport increased by 3% in February 2023 compared to pre-COVID-19 pandemic February…

    7 March, 2023

  • Dalata Hotel Group plc has announced that it has acquired a 192-bedroom hotel at 240 Seven Sisters Road, Finsbury Park,…

    7 March, 2023

We use cookies in order to give you the best possible experience on our website. By continuing to use this site, you agree to our use of cookies.
Accept
Reject