Five-star Dromoland hits 'purple patch'
The managing director of the five-star Dromoland Castle hotel said yesterday that the business "is going through a nice purple patch" as pre-tax profits last year increased more than five-fold to €324,889.
Mark Nolan was commenting on new accounts lodged by Dromoland Castle Holdings which show that revenues increased by 11pc to €17.3m.
Last year was Dromoland's 51st in business and some of its guests over the years include US Presidents George Bush and Bill Clinton along with Nelson Mandela and Muhammad Ali.
The firm also operates the Inn at Dromoland which it acquired in 2012 for €2.1m.
"It is a good story. Dromoland has had a very good first quarter in 2015 and has had one of the best months of May in years and the Inn at Dromoland has turned the corner and is performing very well," Mr Nolan said.
He said 350 staff are employed between the two hotels and he is aiming for an 8pc-10pc increase in business this year.
He said: "2016 is looking very good, based on bookings we have had already."
The increase in business allowed the firm pay a dividend of €250,000 last year to its shareholders who include Anthony O'Reilly,
In the High Court last month, AIB obtained a conditional order giving the bank a charge over €2.7m worth of shares held by Mr O'Reilly in the Dromoland firm.
The firm's operating profits rose 117pc to €491,314.