New accounts filed for Kelly's Resort Hotel in Rosslare have revealed that profits rose 12% at the four-star venue last year.
The Irish Times reports that the hotel's pretax profits increased from €688,261 in 2015 to €772,282 in 2016, with operating profit also rising by almost 12% to €834,648 as turnover hit €14.4 million.
Meanwhile, the resort's managing director, Bill Kelly, said that occupancy rates during the period were "around 92%". Kelly attributes the rise in profits and high occupancy rates to an increase in customer confidence leading to people being more willing to spend money on hotel stays.
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Kelly went on to state that he doesn't anticipate that growth will be as significant in 2017 due to the hotel opening later than usual in the year as a result of renovations to its kitchen facilities. He estimates that Kelly's has invested approximately €3 million in capital projects in the past several years.
He also asserted that, to date, business at the hotel hasn't been adversely effected by Brexit and he doesn't believe that it will be an issue in the future.
When it comes to the workforce, the number of staff employed by Kelly's increased by 11 to 236 in 2016, with staff costs increasing nearly 2% to €5.77 million while directors' fees were down to €218,333 from €231,606.
Furthermore, the resort's bank overdraft rose from €26,662 to €837,562 to help facilitate capital projects, while cash at the bank and in hand decreased 22% to €183,934.