The US firm has also seen an increase in its cost base at the Shelbourne, with expenses from its hotel operations rising to $27 million. Photograph: Eric Luke / The Irish Times
The Shelbourne was the only fully operational hotel in the Kennedy Wilson portfolio in the three months to the end of September although it recently opened a resort in Hawaii after a refurbishment. In the first nine months of the year, revenues from its hotel operations climbed to $42.7 million, close to the $46.9 million generated in 2022 with three months to spare.
Kennedy Wilson’s annual report last year suggested the hotel’s valuation has increased by a quarter to €236 million. It has spent about €36 million on refurbishment works since it acquired the property.
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