Four-star Meath hotel back in profit
Published 30/06/2015 | 02:30
The Cusack Group-owned four-star Knightsbrook Hotel & Golf Resort returned to profit to record pre-tax gains of €332,850 last year.
Numbers employed at the Co Meath hotel rose to 197 and accounts filed with the Companies Office show that revenues rose by 3pc to €9.58m.
According to the directors' report for the Knightsbrook Hotel and Golf Resort, "the business is operating well and profits should improve in the coming period".
The hotel - located at Effernock in Trim - contains 186 acres of parkland including a championship golf course designed by Christy O'Connor Jnr.
In 2010, the company's banking facilities were taken over by Nama.
The report states: "The company continues to rely on and has the support of its shareholders but also relies on the continued support of Nama."
The directors state that the firm "still has an excess of liabilities over assets of €1.55m but the directors are satisfied that with the continued support of its bankers and shareholders the company can continue to trade for the foreseeable future".