New accounts filed for Killarney Hotels Ltd, the company that operates Dunloe Castle and The Europe Hotel, have revealed that the firm's pre-tax losses increased 34% in the year ending on December 21, 2017, going from €5.5 million to €7.4 million.
As reported by The Irish Independent, the company's revenues decreased 10% from €19.2 million to €17.2 million last year as Dunloe Castle was closed for refurbishment in 2017.
The directors asserted that they "consider the performance of the company to be in line with expectations", adding, "Killarney Hotels must continue to evolve in order to add value to the customer's experience and outperform its competitors by addressing those issues."
Sales And Staff
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Killarney Hotels Ltd also recorded a net loss of €264,925 on the sale of property, plant and equipment. Meanwhile, the average number of people employed by the firm rose from 190 to 198 with staff costs decreasing from €8 million to €7.53 million and remuneration for directors dropping from €571,918 to €550,535.
© 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.