Ashford Castle Enjoys 'Exceptional Year' As Revenues Spike
The five-star Ashford Castle has enjoyed an 'exceptional year' with an occupancy rate into 'the mid to high 90s' between mid-May to the end of September, according to general manager Niall Rochford.
Newly filed accounts for the hotel, which is its first full year of trading since a €100 million restoration, show the hotel's earnings last year totalled €270,000 as revenues saw a significant increase from €9 to €11.76 million, reports the Irish Independent.
"From an occupancy point of view, it has been the busiest year that the castle has ever experienced and our average room rates reflect the significant investment that has been put into the castle. It has been a very, very positive year and more positive that we expected," said Rochford.
Ashford Castle underwent an independent valuation by Savills last year, which saw the value of the hotel impaired by €17.6 million, however it was described by the directors as being "temporary and will be reversed in the coming years".
The hotel, which is a "significant employer in the south Mayo area" with 386 employees, saw its staff costs total €5.2 million.