Business Irish

Saturday 20 January 2018

Brian and Amy's wedding hotel in profit for second year

Brian O Driscoll and Amy Huberman on their wedding day yesterday at St Josephs Church in Aughavas Co Leitrim.
Brian O Driscoll and Amy Huberman on their wedding day yesterday at St Josephs Church in Aughavas Co Leitrim.

Gordon Deegan

The five-star hotel where Brian O'Driscoll and Amy Huberman held their wedding reception recorded profits for the second year running in 2013.

Accounts filed with the Companies Office show that accumulated losses at Lough Rynn Castle fell from €1.31m to €1.286m.

The figures show that the firm recorded a profit of €29,944 in 2013 following a profit of €89,000 in 2012.

The reduced profits coincided with a drop in weddings at the hotel and its sister hotel, Kilronan Castle, in 2013.

However, the hotel group enjoyed strong growth in revenues.

The hotels hosted 220 weddings in 2012 and around 200 in 2013 and the hotel director with the Hanly Castle Hotel Group, Clement Gaffney, has attributed the drop of 20 bookings "to a small bit of superstition from couples not wanting to get married in 2013".

However, the 2013 drop contributed to the hotel group having a bumper wedding business last year.

The hotel recorded a trading profit of €283,428 in 2013 after taking into account the €235,000 in rent paid to the hotel owners and depreciation costs of €18,484.

The two hotels attract more than 66,000 visitors to the region annually.

During 2013, Kilronan Castle recorded a trading profit of €400,751.

A net loss of €328,589 was reported. However, this takes into account rent of €529,240 paid to the hotel's owners in rent and non-cash depreciation costs of €200,100.

A note to the accounts states that the company continues to rely on the support of Nama to Alan Hanly.

It stated: "The directors are confident that Nama will continue to support Mr Hanly."

Irish Independent

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