New accounts for Kenmare's five-star Park Hotel have revealed that the venue's profits decreased 62% last year to €175,118 from €471,983 in 2016.
According to The Irish Independent, Park Hotel co-owner John Brennan attributed the decrease in profits to costs associated with a €1.8 million refurbishment programme at the hotel, and pointed out that the venue's trading was up 14% last year on 2016 while 2018's trading is up 5% on 2017.
A Record Year
The hotel's accumulated profits totalled €2.87 million at the end of 2017 while its cash pile increased from €201,634 to €342,055, and Brennan asserted that the venue's revenues for this year surpass those of 2007, making 2018 a record year for the Park Hotel in relation to revenues.
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© 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.