Tifco Posts Significant Increase In Revenue
Tifco hotel group has posted a significant increase in revenue, with the firm's revenue per available room (RevPAR) growing 10.2% last year.
According to The Sunday Business Post, the company's operating profits rose from €6.3 million in 2016 to €7.6 million last year while turnover increased from €35 million to €37.2 million.
The news of the group's enhanced performance in 2017 comes hand in hand with the revelation that Apollo Global Management is in exclusive talks to acquire Tifco from its current owner Goldman Sachs.
The Tifco portfolio includes 2,600 hotel rooms, almost a third of which are operated under management contracts.
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