Thursday 19 September 2019

Not the last resort: Fota Island owners remain upbeat despite 2018 loss

Luxury: Fota Island Resort outside Cobh, Co Cork
Luxury: Fota Island Resort outside Cobh, Co Cork

The Hong Kong-owned firm that operates the luxury Fota Island resort in Cork recorded losses last year of €386,827 as the company further invested in the resort.

The loss for Fota Island Resort operator Xiu Lan Hotels Ltd in the 12 months to the end of September last takes account of hefty non-cash depreciation costs of €1.08m and interest payments of €365,466.

A spokesman for the Fota Island Resort said that the business last year saw steady growth in revenue across the majority of market segments at the resort.

"Management were happy to see another busy trading year with a mix of new and returning guests and growth in the Northern European market," he said.

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