The latest accounts for Co. Mayo's Ashford Castle hotel have revealed that the venue's revenues rose by 0.5% to €23 million last year.
As reported by The Irish Times, the hotel recorded pre-tax losses of €2.79 million for last year after taking non-cash depreciation costs of €6.5 million and finance costs of €1.08 million into account.
Additionally, the number of people employed by the hotel increased from 274 to 295 last year, with staff costs increasing from €7.8 million to €8.35 million.
Get a FREE Digital Subscription!Enjoy full access to Hospitality Ireland, our weekly email news digest, all website and app content, and every digital issue.
The hotel's 2020 revenues are expected to be significantly impacted by the continuing COVID-19 pandemic.
The Irish Times quotes Ashford Castle general manager Niall Rochford as saying, "We are seeing the starkness of the next six months as being very difficult", and stating that the venue will experience "a significant reduction in revenues" this year.
© 2020 Hospitality Ireland – your source for the latest industry news. Article by Dave Simpson. Click subscribe to sign up for the Hospitality Ireland print edition.