Lee Hotels group distributes €6 million in dividends across a two-year period.
The Lee Hotels Group, a family-controlled business operating the Mespil Hotel in Dublin 4 and the Sligo Park Hotel, has recently expanded its property portfolio with a focus on growth and financial performance.
In a significant move, the group secured planning permission from Dublin City Council in January 2024 to add 47 rooms to the Mespil Hotel, increasing its total capacity to 306 rooms. This expansion demonstrates a commitment to improving offerings and growing the property portfolio [1].
Financially, Lee Hotels Group has shown strong results, paying out €6 million in dividends over the past two years, a clear indication of profitability and stable cash flow [1].
The consolidated accounts show that the group's revenues remained flat at €24 million. The Mespil Hotel contributed €14.43 million, while the Sligo Park Hotel generated €9.59 million. Despite this, the pretax profits for the group declined by 13% to €5.19 million in the 12 months to the end of September 2024. However, the group recorded a post-tax profit of €4.47 million, incurring a corporation tax charge of €712,069 [2].
Staff costs increased marginally from €8.41 million to €8.46 million, with the number of employees increasing by one to 248. The directors' pay decreased from €1.02 million to €816,663, and the directors' note with the accounts stated that trading for the year was satisfactory [2].
It's worth noting that the Lee Hotels Group is controlled by the Kidney family, with each of Grace, Denis, Susanne, and John Kidney owning 20% of the business. Robert Lee Kidney, Deirdre Kidney, and Laoise Sareen collectively own the remaining 20% [3].
In a follow-up application last December, the hotel firm wished to proceed with the bar extension in isolation from the remainder of the permitted works, and planning permission was granted in March 2025 for the bar extension [4].
The group's revenues for the Sligo Park Hotel and the Mespil Hotel remained steady, with the Mespil Hotel contributing €14.43 million and the Sligo Park Hotel generating €9.59 million [2].
In the previous year, the hotel group paid out €4 million in dividends, and this was followed by a payout of €2 million in the current year [5]. The Lee Hotels Group is actively pursuing expansion plans alongside maintaining solid financial performance.
Sources:
- Lee Hotels Group Expands Mespil Hotel
- Lee Hotels Group Financials
- Lee Hotels Group Ownership
- Lee Hotels Group Planning Permission
- Lee Hotels Group Dividends
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