Heavy trading losses may force Ireland hotel closures
19 April 2005 by Andrew Garvey
Ireland's state-owned Great Southern Hotels Group may close due to heavy losses, its owner the Dublin Airport Authority has warned.
The authority's chairman Gary McGann said the nine-strong group has had "four consecutive years of trading losses" and faced a bleak future.
Occupancy was flat, while payroll costs accounted for 45% of the hotels' turnover, compared with an industry norm of 35%.
McGann said the Government should consider selling off the group. "The danger is that if something isn't done about the hotels, they will have to be closed," he added.
By Andrew Garvey
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