Jurys Doyle Hotel Group announced an increase in pre-tax profits for the first half of 2002 of 2.5 per cent to €29.5 million.
However, the company warned that profit growth was not expected to return to pre-2001 levels in the near future.
The first-half results for Jurys, which had reported an 8 per cent drop in profits for 2001 due to the foot and mouth outbreak in Ireland and the September 11th attacks, were in line with analysts' expectations.
The company said earnings per share rose 1.9 per cent to 38.4 cents while the dividend per share was up 5 per cent to 8.1 cents. Turnover for the period rose marginally to €138.6 million.
The company also said it intends to open a three-star hotel in Dublin on Parnell Street.
The new 253-bedroom "budget plus" hotel will be built as part of a major retail and hotel development beside the Rotunda Hospital. The hotel is expected to be open by the summer of 2004.
The announcement of the new Parnell Street hotel together with Jurys Inn Newcastle, which opens in February, and the planned opening of a further three Jurys Inns in Ireland and Britain will increase the number of bedrooms for the group to 1,267.