Gina Marie
Rock n' Roll Doggie VIP PASS
The Mirror
April 15, 2002
U2 Hotel Losses Elevating
By Sean O'Hara
U2's hotel recorded losses of almost EUR7million by the end of 2000,
accounts have shown.
The Clarence Hotel in Temple Bar, Dublin, owned by Bono and The Edge,
made losses of EUR255,000 in 2000 on top of accumulated losses of
almost EUR6.6million.
The Clarence made gross profits of EUR6.2million in 2000, but
administrative costs ran to EUR6.3 million for the same year.
Investors, including shareholder Harry Crosbie and the U2 company Not
Us Ltd., have pumped almost EUR10 million into the Liffeyside hotel in
a bid to turn its fortunes around.
But Bono -- who wrote the script for the movie flop Million Dollar
Hotel starring Mel Gibson -- may be forced to check out for good if the
hotel's fortunes don't improve.
The five-storey Victorian building was bought in 1992 by Bono and the
Edge.
The refurbishment qualified for 100 per cent capital allowances under
the government's Temple Bar renewal scheme.
Can anyone help w/ converting the Euros? Well, The Kitchen is closing-maybe the hotel too?
April 15, 2002
U2 Hotel Losses Elevating
By Sean O'Hara
U2's hotel recorded losses of almost EUR7million by the end of 2000,
accounts have shown.
The Clarence Hotel in Temple Bar, Dublin, owned by Bono and The Edge,
made losses of EUR255,000 in 2000 on top of accumulated losses of
almost EUR6.6million.
The Clarence made gross profits of EUR6.2million in 2000, but
administrative costs ran to EUR6.3 million for the same year.
Investors, including shareholder Harry Crosbie and the U2 company Not
Us Ltd., have pumped almost EUR10 million into the Liffeyside hotel in
a bid to turn its fortunes around.
But Bono -- who wrote the script for the movie flop Million Dollar
Hotel starring Mel Gibson -- may be forced to check out for good if the
hotel's fortunes don't improve.
The five-storey Victorian building was bought in 1992 by Bono and the
Edge.
The refurbishment qualified for 100 per cent capital allowances under
the government's Temple Bar renewal scheme.
Can anyone help w/ converting the Euros? Well, The Kitchen is closing-maybe the hotel too?