Brothers Simon and Christian Stokes who run Residence, the exclusive private members' club

One of the owners of Dublin's most exclusive private clubs has hit back at rumours that it is struggling to recruit members because of the recession.


Opened last year, members of Residence pay €1,600 a year and a €250 joining fee to enjoy the facilities of a four-storey listed Georgian building on St Stephen's Green.


Residence is decorated in the style of a French chateau and includes a restaurant and champagne bar.


When an email was sent recently to the club's 500 members suspending bar tabs and asking all members to bring their accounts to order, rumours circulated that all might not be well.


Not so, says owner Simon Stokes, who runs Residence with his brother Christian and a staff of 45.


He told The Diary: "The thing about Ireland is that you always get people who want to knock you down – 99% of the time people who start these rumours have no idea what they're talking about.


"That's why I never pay any attention to any of these rumours. If I did, I'd start panicking."


The businessman, who also runs Bang Cafe on nearby Merrion Row, claims the decision to suspend members' bar tabs was taken purely to cut down on paperwork.


"We didn't have that many people running up bar tabs, but the ones who did were simply creating too much accounting and administration work. The whole thing was taking so much time, it was turning into a pain in the ass so we sent out a generic mail to everybody asking that they bring their accounts up to date," said Stokes.


He does admit, however, that like most bars, clubs and restaurants, January was tricky.


"It's been busy but it's not crazy because everyone is away this time of year. That aside, I can tell you that despite the recession, Residence is meeting all its targets."