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K Club Records Pre-Tax Losses Of €4.8m For 2016

Published on Sep 6 2018 11:23 AM in Hotel tagged: Trending Posts / K Club

K Club Records Pre-Tax Losses Of €4.8m For 2016

In the wake of reports that approximately 100 potential buyers have shown interest in purchasing Co. Kildare’s K Club since it was put on the market for €80 million in early July, new accounts for the venue have revealed that it experienced pre-tax losses of €4.8 million in 2016.

According to The Irish Independent, the hotel and golf resort recorded the losses despite experiencing an 11% rise in revenues from €14 million to €16.6 million during the 12 months ending in December of 2016.

"A Once-Off Increase"

2016's €4.8 million pre-tax loss marks a 24% rise on the venue's 2015 pre-tax losses of €3.9 million. The directors stated that the venue's hosting of the Dubai Irish Open in 2016 "contributed to a once-off increase in overall operating expenses".

© 2018 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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