Brennans' Park Hotel enjoys record year
The five-star Park Hotel, co-owned by TV's Francis Brennan and his brother John, enjoyed record revenues this year.
That is according to the co-owner of the luxury hotel in Kenmare. John Brennan said that profitability at the Park Hotel will be up this year based on the higher revenues.
He was commenting on new accounts showing that the Park Hotel last year recorded profits of €175,118 - a 62pc drop on the profits of €471,983 in 2016.
Mr Brennan said that costs associated with the €1.8m refurbishment programme at the hotel resulted in the lower profits last year. He added that trading at the Kerry hotel was last year 14pc up on 2016 while trading this year is 5pc up on last year.
John Brennan now holds a majority share in the exclusive hotel company after Francis gave up complete control of the Park Hotel towards the end of 2016.
Mr Brennan said the 2018 revenues surpass the hotel's 2007 revenues, making it a record year revenue-wise for the hotel.
The hotel has enjoyed a record year in spite of absorbing a €100,000 hit on business as a result of Storm Emma in March.
At the end of last year, the hotel business was sitting on accumulated profits of €2.87m as the cash pile increased from €201,634 to €342,055.