Achtoon Baby cartoons

Achtoon Baby

New U2 album

New U2 Album Info

U2 Tour Dates

NEW! @U2 Tours

"[I]t says somewhere in the scriptures that the Spirit moves like a wind. . . . The Spirit is described in the Holy Scriptures as much more anarchic than any established religion credits."

-- Bono

@U2 home page

U2's city hotel made loss of €1.6m last year

Independent, September 25, 2010
By: Gordon Deegan

 

Losses continued to mount last year at the Clarence Hotel in Dublin's Temple Bar, owned by U2's Bono and The Edge, with pre-tax losses increasing by over 50pc to €1.64m from €1m in 2008, accounts just filed show.

This followed the hotel recording a pre-tax loss of €237,293 in 2007 -- the last year in which the hotel made a profit was in 2006 when its operating profits totalled €148,800.

The accounts lodged by the 48-room Clarence Hotel show that last year the hotel's turnover dropped by 34pc from €5.2m to €3.3m.

The losses recorded last year put the company's accumulated losses at €2.5m at the end of December last year.

Loans

Other listed shareholders along with Bono and The Edge include financier Derek Quinlan and developer Paddy McKillen, and the returns show that the shareholders have advanced interest-free loans to the business totalling €1m in the past two years.

The numbers employed by the hotel dropped by 21pc from 98 to 71 last year.

The directors' report states that Bono and The Edge, who bought the hotel in 1992, "plan to take the necessary measures to improve operating performance through cost efficiencies as well as continued focus on marketing."

© Independent, 2010.

More U2 News

Facebook icon Twitter icon YouTube icon Instagram icon Flickr icon Apple icon Android icon
@U2 Tours
@U2 Calendar

May 9 2016

08:00 PM - 09:00 PM - Off Camera with Sam Jones Featuring The Edge

Tune in Tonight

May 10 2016

Bono's Birthday

Our favorite singer/writer/activist turns 56 today.

Full Calendar