Profits up 10% at Ryan Hotels
Ryan Hotels has reported increases in both profit and turnover for the six months to 27 July.
Turnover rose by 25% to euro 26.3m (£15.9m), from euro 21m (£12.7m) last year. Profit before tax was up by 10% to euro 4.1m (£2.5m), from euro 3.7m (£2.2m) last year.
Chairman Sean Henneberry said the group's gross profit margin had increased despite cost pressures, especially rising employment costs.
The six months have seen the completion of the IR£4m (£3m) refurbishment of the 188 bedrooms at the Hyde Park Ryan hotel in London, which has added air conditioning, modem points and other amenities for the corporate market. Work has recently started on the ground floor areas and is due for completion in November.
The refurbishment of all 120 bedrooms, restaurants, bar and public areas at the Metropole Ryan in Cork, Ireland, has also been completed, along with a new meeting room complex that can cater for up to 500 people.
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