Newly-filed accounts for Kilkenny's five-star Mount Juliet Hotel show it saw a big drop in pre-tax losses to €1.9 million last year and that it 'hopes to return to a modest level of profitability this year', according to a spokesperson.
The accounts show that the hotel's pre-tax losses, which took into account 'restructuring charges' of €538,167, were reduced by 23 per and that revenues increased by 5 per cent to €9.47 million, reports The Irish Examiner. The hotel reduced its number of employees from 136 to 127 with staff costs decreasing from €5.29 to €4.98 million last year.
"Operating losses reduced substantially in the period. Trading in 2016 has been positive across our markets and we hope to return to a modest level of profitability this year. Since our acquisition in 2014, we have invested an additional €6 million, including refurbishment of the Manor House, building a brand-new clubhouse and restoring the condition of the golf course," commented the spokesperson.