The Clarence Is A 'Losing Millions Of Dollars' Hotel?

Gina Marie · 04-18-2002, 06:59 PM

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?

kariatari · 04-18-2002, 07:51 PM

Well Geez! It's a nice hotel and all (judging from the pics on the website), but have you checked out the prices for one night at the hotel? I think it's somewhere around $260 for one night in the most modest room.

No wonder they are losing money!

bono_man · 04-18-2002, 09:15 PM

I thought they could make up the money on the price of a pint alone!!

------------------
20 to 40!!!!!!!!!!!

rafmed · 04-18-2002, 10:25 PM

1 euro = .85 us dlls aprox.

Would they believe that would be able to rawk U2 fans?

If I ever go to Dublin I may pass and check the building, but certainly should be better and cheaper hotels in Dublin.

------------------
Please...don't make me say please, champagne and ice cream, it's not what I want, it's what I need.

Desire4Bono · 04-19-2002, 07:10 AM

If we all showed up over there it would save their business. Maybe they've been rich so long they don't realize most people can't pay that much. Even if I was rich, I wouldn't. Cheaper hotels are very nice. But I would stay at the Clarence because it's theirs!

joyfulgirl · 04-19-2002, 12:37 PM

My officemate just called me from Dublin to find out the name of it. Half of my colleagues are in Dublin right now and none of them give a hoot about U2, but she mentioned in her voicemail message that Bono was at the theatre when she was there the other night. ACKKKKKK!! I hope they all feel very bad that they didn't think of a business purpose for me to go along with them.

MEMHPIS-EVE 007 · 04-19-2002, 06:03 PM

I`ve seen the place from the inside and it`s not that fancy!!!
I haven`t been to any of the rooms but I saw pictures of the most expenssive swete.
It has a very hommy charm.
The loby kinda looks like Edge`s livingroom or something. I don`t think the price justifies it though-From the outside it looks better than the inside.

Oh buy the way I wanted to stay there one night when I was in Dub but ehh...well do the math:
1 Irish pount= 5.5 Israely sheckells

Auch!

------------------
"And there`s no mountain to high ,no river to wide. Sing out this song and I`ll be there by your side.Storm clouds may gather and storms may colide...
I love you untill the end of time.
Come what may! I will love you until my dying day!"

MOULIN ROUGE

[This message has been edited by MEMHPIS-EVE 007 (edited 04-19-2002).]

kariatari · 04-20-2002, 12:31 AM

Quote:

Originally posted by joyfulgirl:
My officemate just called me from Dublin to find out the name of it. Half of my colleagues are in Dublin right now and none of them give a hoot about U2, but she mentioned in her voicemail message that Bono was at the theatre when she was there the other night. ACKKKKKK!! I hope they all feel very bad that they didn't think of a business purpose for me to go along with them.

Awww! I'm sorry! I hope they feel very bad too!

04-18-2002, 06:59 PM	#1
Gina Marie Rock n' Roll Doggie VIP PASS Join Date: Jul 2001 Location: Bruce's land of hope and dreams Posts: 5,404 Local Time: 09:39 AM	The Clarence Is A 'Losing Millions Of Dollars' Hotel? 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? __________________

04-18-2002, 07:51 PM	#2
kariatari War Child Join Date: Apr 2001 Location: Iowa Posts: 935 Local Time: 09:39 AM	Well Geez! It's a nice hotel and all (judging from the pics on the website), but have you checked out the prices for one night at the hotel? I think it's somewhere around $260 for one night in the most modest room. No wonder they are losing money! __________________

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04-18-2002, 09:15 PM	#3
bono_man Thom's Bitch Join Date: Dec 2000 Posts: 2,287 Local Time: 12:39 AM	I thought they could make up the money on the price of a pint alone!! ------------------ 20 to 40!!!!!!!!!!!

04-18-2002, 10:25 PM	#4
rafmed Refugee Join Date: May 2001 Location: On the moon's belly button Posts: 1,255 Local Time: 08:39 AM	1 euro = .85 us dlls aprox. Would they believe that would be able to rawk U2 fans? If I ever go to Dublin I may pass and check the building, but certainly should be better and cheaper hotels in Dublin. ------------------ Please...don't make me say please, champagne and ice cream, it's not what I want, it's what I need.

04-19-2002, 07:10 AM	#5
Desire4Bono Refugee Join Date: Jan 2002 Location: living in a rock and roll fantasy- and what's wrong with that? Posts: 1,921 Local Time: 09:39 AM	If we all showed up over there it would save their business. Maybe they've been rich so long they don't realize most people can't pay that much. Even if I was rich, I wouldn't. Cheaper hotels are very nice. But I would stay at the Clarence because it's theirs!

04-19-2002, 12:37 PM	#6
joyfulgirl Blue Crack Addict Join Date: Apr 2001 Posts: 16,690 Local Time: 08:39 AM	My officemate just called me from Dublin to find out the name of it. Half of my colleagues are in Dublin right now and none of them give a hoot about U2, but she mentioned in her voicemail message that Bono was at the theatre when she was there the other night. ACKKKKKK!! I hope they all feel very bad that they didn't think of a business purpose for me to go along with them.

04-19-2002, 06:03 PM	#7
MEMHPIS-EVE 007 The Fly Join Date: Aug 2000 Location: Long long tima ago,In a Galaxy far far away. Posts: 189 Local Time: 02:39 PM	I`ve seen the place from the inside and it`s not that fancy!!! I haven`t been to any of the rooms but I saw pictures of the most expenssive swete. It has a very hommy charm. The loby kinda looks like Edge`s livingroom or something. I don`t think the price justifies it though-From the outside it looks better than the inside. Oh buy the way I wanted to stay there one night when I was in Dub but ehh...well do the math: 1 Irish pount= 5.5 Israely sheckells Auch! ------------------ "And there`s no mountain to high ,no river to wide. Sing out this song and I`ll be there by your side.Storm clouds may gather and storms may colide... I love you untill the end of time. Come what may! I will love you until my dying day!" MOULIN ROUGE [This message has been edited by MEMHPIS-EVE 007 (edited 04-19-2002).]