Ballynahinch Castle Hotel Records €58k Profit
Published on Feb 3 2014 4:15 PM in Hotel
Ballynahinch Castle Hotel made a pretax profit of €58,800 in 2012, according to figures released.
It marks a great turnaround for the 450-acre estate, located in Connemara Galway, as it had a loss of €170,078 in 2011.
The Irish Times reported that turnover for the company behind the hotel, Ballynahinch Castle Inc, was €3.37 million, another significant improvement from the €3.1 million it recorded in 2011.
The paper said that the profit was used to reduce accumulated losses of €1 million.
Ballynahinch Castle was reportedly bought in the 1970s by American couple Raymond and Minerva Mason, who have other business interests in oil, insurance and communications companies.
The castle is on a 450-acre estate with walks, gardens, fishing and shooting, and the Masons are understood to spend a few months every year living on the estate.
Appendices to the Ballynahinch Castle accounts show that turnover at the bar was €419,492 in 2012, producing a profit of €246,112, while turnover from meals was €1.17 million, producing a profit of €744,546.