Lough Rynn Castle And Kilronan Castle Enjoy Profitable Year
Lough Rynn Castle (pictured) in Co Leitrim and its sister property Kilronan Castle in Co Roscommon have both enjoyed a successful year, with the latter recording profits of €2 million in 2015.
Newly-filed accounts for the four-star Lough Rynn show it recorded profits of €173,602 in 2015 and that Kilronan Castle increased its number of staff from 128 to 149, as staff costs grew to €3 million, reports the Irish Independent. The hotels are members of the Hanly Castle Hotel Group and had been acquired for €14 million last year after being put on the market for €8 million.
The 44-bedroom Lough Rynn hotel comprises of over 300 acres while Kilronan Castle, which is located on the shores of Lough Meelagh, has forty acres, 84 bedrooms, a leisure centre and 48 holiday homes. A note attached to each of the hotel accounts stated that the directors "are confident that following the restructuring process introduced by the new owners, the company will be in a position to meet its obligations as they fall due to trade profitably".