Wednesday 21 August 2019

Ballymaloe hotel owner buoyed by profits of €2.25m

Ballymaloe Country House Hotel
Ballymaloe Country House Hotel
Rachel Allen in the greenhouse at the Ballymaloe Cookery School. Photo: Tony Gavin

Gordon Deegan

Accumulated profits at the firm behind the Ballymaloe Country House Hotel increased marginally last year to €2.25m.

New accounts from Yeats Room Ltd, which operates the venue, show that the company recorded profits of €17,177 in the 12 months to the end of October.

Please log in or register with Independent.ie for free access to this article.

Log In

Numbers employed at the Co Cork hotel and restaurant last year increased by one to 52. Pay to directors declined from €408,920 to €404,545.

The company’s cash pile also declined, from €769,865 to €697,815.

The profit of €17,177 follows profits of €3,262 in 2017.

Ballymaloe House can accommodate 60 guests for bed and breakfast, and 120 in its restaurant.

The firm recorded the profits after taking account of non-cash depreciation costs of €29,774.

It has turned the Ballymaloe Grainstore, a 17th century farm building, into a venue where it can cater for corporate events hosting up to 250 people, as well as a small number of weddings.

The pay to key management personnel decreased from €122,295 to €119,988.

The value of the firm’s tangible assets, meanwhile, stood at €2m last year.

The late Myrtle Allen started the business with her late husband, Ivan, in 1964 and subsequently spawned the Ballymaloe Cookery School.

The second and third-generation Allens have created 16 business enterprises.

Accounts recently filed by Ballymaloe Cookery School Ltd show that it recorded an operational profit at the school of €62,134 in 2018.

At the end of last August, the company was sitting on accumulated profits of €2.7m.

The school has been operating since 1983.

The main driver of the success of the school is its intensive 12-week cookery course, but the venue offers a range of other courses.

One of Darina Allen’s sons, Toby, is general manager of the school and was appointed to the company board in February 2018.

Indo Business

Also in Business