Dromoland Castle on course for record year
Published 29/06/2016 | 02:30
The five star Dromoland Castle hotel is on course for a record year with revenues at the Co Clare business set to top €20m.
That is according to the long-serving hotel manager, Mark Nolan who pointed out that the business also includes the Inn at Dromoland, which it acquired in 2012 for €2.1m.
Mr Nolan was commenting on new accounts showing that pre-tax profits at Dromoland Castle Holdings Ltd increased four fold last year to €1.29m.
This followed revenues at the firm last year increasing by 13pc from €17.3m to €19.55m in the 12 months to the end of December last.
Last year, Dromoland Castle Holdings Ltd paid a dividend of €250,000.
On this year, an upbeat Mr Nolan said on the prospects of the business topping €20m in revenues: "We are holding our breath to see if we can do it, but we are busier than last year.
"I didn't think we would beat last year which was a really strong but this year is beginning to look stronger."
Mr Nolan added: "The caveat is what will Brexit do and will people get nervous about travelling? But we are hopeful. We are positive and the product is looking great."
He said: "Overall, we are very happy with the results from last year."
Accumulated profits stood at €12.17m while shareholder funds totalled at €22.7m. staff costs for 350 employees totalled €7.7m.
The profit takes account of non-cash depreciation costs of €1.54m.