Golf resort in results fairway

The exclusive five-star Druids Glen resort last year recorded profits of €1m as revenues climbed to €11m.

The resort’s strongest performance since 2001 coincided with €7.2m in debt carried by the firm that operates the 400-acre resort being written off.

This followed connected firms to Obalus Hotel Company Ltd writing off the debt.

Richard Collins, Druids Glen CEO, said: “There is never a bad time to reduce debt.”

Abridged accounts lodged with the Companies Office show that the reduction in debt resulted in the firm’s accumulated losses reducing from €7.64m to €82,368 in the 12 months to the end of December 2012.

Druids Glen in Co Wicklow was the scene in July 2008 of a much storied golf game and dinner between former taoiseach Brian Cowen and former chairman of Anglo Irish Bank, Seán FitzPatrick.

Commenting on last year’s performance, Mr Collins said: “Druids Glen Hotel experienced over 13% growth over the 2011-12 period and is experiencing similar trading into 2013. The golf club experienced almost 4% revenue growth during that period despite the poor weather experienced in the Summer period of 2012.”

According to a note attached to the accounts, the company has experienced positive trends in 2010, 2011 and 2012. The note states: “This has resulted in increased occupancy levels and increased revenue year on year.

“These positive trends have continued in 2013 with management figures reflecting improved turnover and continued growth in profitability.”

Six years ago, Druids Glen staged 25 weddings and has 93 weddings staged and booked for 2013. Mr Collins said the wedding pipeline for 2014 is similar.

The resort employs 200 people.