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Castlemartyr Hotel Experiences Loss Of Almost €565k

Published on Feb 6 2019 10:16 AM in Hotel tagged: Trending Posts / Castlemartyr

Castlemartyr Hotel Experiences Loss Of Almost €565k

Accounts filed by Castlemartyr Country Hotel Resort Ltd have revealed that the five-star Co. Cork hotel sustained losses of €564,728 in the year that ended on March 31, 2018.

According to The Irish Times, in a statement included with the accounts, the company's directors said that the loss "is in line with expectations due to the nature of any start-up business of this scale".

Revenues And Planned Changes

The company, which began operating in September of 2015, saw its revenues rise 7% from €9.5 million to €10.1 million during the twelve month period. The directors added that a number of changes, including refurbishment and development work, are planned for the hotel in a bid to increase its sales.

© 2019 Hospitality Ireland – your source for the latest industry news. Article by Dave Simpson. Click subscribe to sign up for the Hospitality Ireland print edition.

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