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FBD Hotel Earnings Hit €9.2 Million

Published on Jun 27 2016 11:41 AM in Hotel tagged: Spain / Ireland / hotel / FBD Hotels & Resorts / Farmer Business Developments

FBD Hotel Earnings Hit €9.2 Million

FBD Hotels & Resorts has seen its earnings before interest, tax and write-offs, grow by 48 per cent to €9.2 million over the last year.

FBD's hotel portfolio includes the 4-star Castleknock Hotel & Country Club (pictured), the 66-bedroom Faithlegg House Hotel & Golf Resort in Waterford, the Tower Hotel & Leisure Centre, as well as its two Spanish properties of La Cala Resort and Sunset Beach Club.

The Irish Times reports that the hotel group has said it hopes to earn €50 million in operating profits across these properties by 2020.

To achieve this, FBD Hotels & Resorts has appointed Peter Nugent, formerly the executive at Allied Irish Banks, and hotel consultant Ian Graham in the roles of non-executive directors. Nugent has over 40 years experience in finance, credit management and business operations, while Graham has worked at the likes of Bass Hotels and Resorts, as well as the ITT Sheraton in Europe, the Middle East and Asia.

Commenting on the company's success, David Kelly the chief executive of FBD Hotels & Resorts said: "This leaves us well positioned for future development and growth."


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