Monday 22 July 2019

Bertie Ahern's old hotel haunt enjoys 'terrific year'

Pool and spa at Parknasilla, Sneem, Co Kerry
Pool and spa at Parknasilla, Sneem, Co Kerry

Gordon Deegan

Revenues at the Parknasilla hotel in Kerry, a favourite of former Taoiseach Bertie Ahern, continue to rise but so do losses.

Revenues jumped 18pc to €5m last year in what managaing director Tony Daly described as "a terrific year" for the business.

"2014 was excellent for the hotel. We are thrilled with the progress being made here," Mr Daly said yesterday.

He added that the hotel continued to post losses in 2014 thanks to a five-year investment programme that will see €2m pumped into the hotel by 2017.

Mr Daly said forecast that the hotel and spa will not return a pre-tax profit until 2017. The business recorded losses of €177,470 in 2013. The four star hotel was bought in 2012 for €11m by a consortium of investors led by Mr Daly. It once belonged to the State but was sold to businessman Bernard McNamara during the boom.

Mr McNamara paid €40m paid for the hotel back in 2006 but a receiver was appointed by Bank of Scotland just six years later.

Irish Independent

Also in Business