First-time contributions from the new Stakis Dublin Hotel and Stakis Park Hotel, Templepatrick, Co Antrim helped to lift full-year profits of the Stakis group by 33 per cent to £74.4 million sterling in the 12 months to September 27th on turnover up 20 per cent at £359 million.
Opened in August 1997, the £17 million 189-bedroom Stakis Dublin on Charlemont Place enjoyed buoyant trading during the year and bookings are "very healthy" over the Christmas period and into January. Also off to a strong start has been the group's £18 million 130-bedroom Stakis Park hotel, which opened in June.
Group figures detail a £16 million increase in hotel profits to £90 million on turnover up £44 million at £270 million, partly reflecting a increase of 587 to 8,054 in the number of bedrooms, including the Dublin and Antrim hotels.
Hotel profitability rose strongly through a combination of a 3 per cent increase in room occupancy to 76 per cent and a 4 per cent increase in the average room rate to £61.40. Average yield per room rose £5.50 to £47.50. Total dividend payments are up from 2.5p to 3p per share.
