Glenlo Abbey Hotel profits double to €530,000

0
52

Glenlo Abbey Hotel profits double to €530,000

 


Luxury break: the Glenlo Abbey Hotel’s investment strategy has allowed it to target high-end guests
Luxury break: the Glenlo Abbey Hotel’s investment strategy has allowed it to target high-end guests

Pre-tax profits at the five-star Glenlo Abbey Hotel on the outskirts of Galway city more than doubled to €529,661 in 2017.

New accounts filed by Baswal Ltd show that the hotel firm enjoyed the leap in pre-tax profits after revenues increased by 10pc from €4.88m to €5.36m in the 12 months to the end of December 2017.

Please log in or register with Independent.ie for free access to this article.

Log In

window.gigyaIntegration = window.gigyaIntegration || {};
gigyaIntegration.command = gigyaIntegration.command || ;
gigyaIntegration.command.push(function() {
gigyaIntegration.addEventHandlers({
onLogin: function(e) {
location.reload();
}
});
$(‘#datawall-sign-in’).click(function(e) {
e.preventDefault();
gigyaIntegration.showLoginScreenSet({
signupSource: ‘opinion’
});
});
$(‘#datawall-sign-up’).click(function(e) {
e.preventDefault();
gigyaIntegration.showRegisterScreenSet({
signupSource: ‘opinion’
});
});
});

Numbers employed at the business increased from 72 to 79 as staff costs went up from €2.1m to €2.2m.

The hotel today is part of the MHL Hotel Collection – a joint venture between US billionaire John Malone, property developer John Lally and Co Down businessman Paul Higgins.

The hotel group’s portfolio of Irish hotels includes The Westin and The Morgan in Dublin and The Galmont in Galway city.

Glenlo Abbey general manager Ronan O’Halloran said that the Glenlo hotel’s strategy of continuous investment over the past number of years “has allowed us to reposition our business model into the higher-end luxury segment”.

“This strategy has delivered growth both in terms of occupancy and average room rate,” he said. He added that the performance from 2017 “continued in a similar fashion for 2018”.

Mr O’Halloran went on to say that in the fourth quarter of this year, “we will commence construction on a 25-bedroom extension which will see our room count increase to 75 bedrooms and suites”.

He said that the outlook for the hotel “is very positive for sales in 2019”.

}
});

#bb-iawr-inarticle- { clear: both; margin: 0 0 15px; }

Irish Independent

LEAVE A REPLY

Please enter your comment!
Please enter your name here