Hodson Bay Group on course for €4m profit
Published 22/12/2015 | 02:30
Operating profits at the Hodson Bay Group of hotels are to set to top €4m in the current year.
That is according to group chief executive Padraig Sugrue who said yesterday that he is "very pleased with the performance of the group over the last 18 months".
The group is controlled by the O'Sullivan family and is made up of the four-star Hodson Bay hotel outside Athlone; the four-star Sheraton hotel in Athlone town centre; and the four-star star Galway Bay hotel.
Mr Sugrue said that the business is projecting to increase revenues this year by €2m and this follows a rise in revenues of €1.5m last year.
Mr Sugrue was commenting on new account filed by Shermond Holdings Ltd that show that the group recorded the 127pc increase in pre-tax profits to €1.78m after revenues increased by 6pc from €25.44m to €26.94m in the 12 months to the end of February 28 this year.
Numbers employed by the group increased from 544 to 561.
Mr Sugrue said that the customer focus is now on quality "and this is our focus: providing that quality product at an affordable rate".
Mr Sugrue said occupancy rates have increased across the group that include occupancy rates of 80pc at the group's Galway Bay hotel.