The hotel chain reported an operating profit of €17.3 million compared with a loss of €81.9 million in 2020, when the pandemic first forced the shutdown of economies and curtailed global air travel.
When net interest costs of €9.3 million were deducted, Doyle Hotels Ltd closed the financial period with a pretax profit of just under €8 million, compared with a loss of €90.1 million a year earlier. In the Republic, turnover rose to €21.4 million from €14.5 million in 2020. In the UK, its sales increased by 62 per cent to €26.4 million while revenues from the Dupont Circle in Washington DC rose to €5.4 million from €3.2 million previously.
Commenting on the current trading environment, Ms Gallagher said: “The hotel sector faces new challenges over the coming 12 months with rising inflation, energy and input costs and a constrained labour market. However, we expect to see further growth for our group as an international boutique, luxury brand, particularly in London and Washington.