Ryan Hotels on the rise
26 April 2000
Ireland-based Ryan Hotels has announced a 15% leap in pre-tax profits.
For the 52 weeks ended 27 January its pre-tax profits climbed to £5.2m, from £4.5m the previous year. Turnover rose 18% to £27.2m.
Occupancy nudged up from 79% to 80%.
During the year the group bought two hotels: the Metropole Ryan hotel in Cork for £5.6m and the Hyde Park Ryan hotel in London for £18.8m.
The Metropole has been upgraded to four-star standard and work is continuing on the development of a conference and banqueting complex. It will have 11 meeting rooms for up to 300 delegates.
The Hyde Park hotel is also being upgraded, with the work due to be completed in June.
