Dublin's Shelbourne Hotel suffers a loss of €156m

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One of Ireland's best-known hotels, the five-star Shelbourne Hotel in Dublin, made a staggering pre-tax loss of €156m in 2008 after the value of the hotel property was written down by €155m.

In spite of the writedown, the company that owns and operates the hotel, Shelbourne Hotel Holdings Ltd (SHHL), made an operating profit in 2008, 2009 and 2010.

The figures show that the company recorded an operating profit of €3m in 2008, following an operating loss of €6m in 2007

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