Pre-Tax Profits Rise At Co. Donegal's Lough Eske Castle Hotel
Pre-tax profits increased more than fivefold to €210,582 at Co. Donegal's Lough Eske Castle hotel last year. Meanwhile, revenues rose 4% to €9.33 million; the number of people employed by the hotel...
Pre-tax profits increased more than fivefold to €210,582 at Co. Donegal's Lough Eske Castle hotel last year.
Meanwhile, revenues rose 4% to €9.33 million; the number of people employed by the hotel decreased from 173 to 165; staff costs decreased from €4.3 million to €4.07 million; and the business recorded a €788,525 operating profit before interest payments of €577,943.
Good Occupancy Gains
Lough Eske Castle is part of Harcourt Developments, the finance director of which, Nick Doherty, said that the rise in the hotel's revenue was underpinned by good year-on-year occupancy gains.
The Irish Independent quotes Doherty as saying, "A particular highlight of our rooms performance was the growth in the North American market, which has continued to perform well for us."
Doherty added, "To date, 2019 has seen continued growth in our key markets, along with strong wedding numbers for the year. There has been ongoing development at the hotel, with the opening of the Father Browne bar earlier this year, and there are plans to expand Cedars restaurant in early 2020.
"We are also considering adding 24 bedroom suites to meet increased demand."
© 2019 Hospitality Ireland – your source for the latest industry news. Article by Dave Simpson. Click subscribe to sign up for the Hospitality Ireland print edition.