LONDON, November 17, 2017 /PRNewswire/ --
This year, businesswoman and philanthropist Elena Baturina, the owner of four European hotels (in Ireland, Austria, Czech Republic and Russia) has received an increased profit from the operations of her Dublin-based four-star Morrison hotel.
The hotel's EBITDA is to reach 4.5 mln euros in 2017, while its market value as estimated by independent experts has tripled since March 2012 when Elena Baturina acquired it from NAMA.
Over the last three years, Morrison has introduced a number of cost-saving measures, which have yielded great results: running costs in 2017 are less than in 2013, while the room count, occupancy and service levels have all increased - last year the Morrison booked sales for 12.2 million euros, which is 1.1 million euros up from the previous year.
The hotel was fully refurbished in 2013 with an investment of 7 million euros, and an addition of 1.25 million euros was made to build 7 more rooms in 2015. Currently, the hotel has 145 rooms, 5 conference rooms, a gym, two restaurants and a bar.
The Morrison operates under the DoubleTree by Hilton franchise, and is in the top 10% of Hilton properties annually, according to Hilton Quality Assessments. It is currently also in top 10 of the Best Dublin Hotels.
Apart from the hotels Elena Baturina's assets at present include a renewable energy project (Italy and Greece), a membrane construction enterprise (Germany), and development projects in the US and EU. In addition, she has invested in a number of real estate investment funds focused on residential and commercial construction and development in the UK and US.
SOURCE Press office for Elena Baturina