Two media reports last week seem to indicate that Dublin is booming again. We had that before, but will it last this time?
The first one here, is about the Temple Bar Pub and the fact that it made a profit of EUR 3.29m last year, with a gross profit of EUR 10.3m. That is a HELL of a lot of pints even at crazy Temple Bar prices. Since the gross profit is the total revenue minus the cost of goods, the actual cost for the drink has already been subtracted. And if you divide that amount by 363, then you come to a gross profit of more than 28k per DAY!
And in the second report here, the Guinness Storehouse has announced that they will spend EUR 16m to expand the Storehouse, which includes a plan to double the size of the Gravity Bar on top of the building. Works will start in the beginning of 2018 and will be finished by 2019. Coincidentally the amount they will invest is “just” EUR 1 per visitor for ALL visitors since 2000: 16.5m visitors came to the Storehouse since it opened in 2000.
There is clearly a lot of money in Dublin…at least the pub and pub/drink-related businesses seem to have it.