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City hotel returns to profit after years of losses
Galway Bay fm newsroom – The four-star Radisson Blu hotel in the city returned to profit last year after previous years of losses.
The hotel at Lough Atalia was built by bankrupt developer Bernard McNamara through his company Shorelark Limited.
According to today’s Irish Examiner, the firm recorded a pre-tax profit of 191 thousand euro in the 12 months to the end of December 2012.
This compares to combined losses of 4.8 million euro between 2009 and 2011.
Staff numbers at the Radisson Blu in the city also increased last year from 174 to 178.
Bernard McNamara resigned as a director of Shorelark Limited in 2011.