The former Miss World held a glitzy wedding celebration at Powerscourt in June last year and new accounts show that the event contributed to revenues at the hotel increasing by 11% last year from €13.4m to €14.96m.
Damien Gaffney, chief investment officer of Tetrarch Capital, the company that owns the hotel, yesterday said: “The hotel delivered an excellent performance in 2014 with strong growth in revenue and occupancy rates.
The strong performance has continued into 2015, and we anticipate another year of double-digit percentage revenue growth this year, following the 11% growth in 2014.”
The accounts show that the firm that actually operates Powerscourt, Sugarloaf Ventures Ltd, recorded earnings before interest, tax, depreciation and amortisation (Ebitda) of €700,000 last year and this followed an Ebitda loss €3.5m in 2013. The firm last year recorded a pre-tax loss of €975,009 and this followed pre-tax losses of €4.7m in 2013.
Mr Gaffney said he is hopeful that growth will see a return to” a material level of profitability this year”.
“Led by general manager David Webster, the Powerscourt team have delivered a dramatic turnaround of the business in a short space of time,” said Mr Gaffney.
He hailed the success of the rebrand of the business, formerly the Ritz-Carlton, in October 2013, as part of Marriott Autograph Collection of Luxury Hotels.
He said the hotel’s strong performance has seen them take on 10 more staff, bringing staff numbers to 270 .
The hotel’s amenities include 200 spacious guest rooms, including 93 suites and a 30,000 square foot spa with 20 treatment rooms and facilities for events, conferences and weddings.
Tetrarch also operates The Marker Hotel in Dublin, the Mount Juliet resort in Kilkenny, Citywest in Dublin, and Killashee House hotel in Naas, Co Kildare.
Powerscourt Hotel and Spa was built by Johnny Ronan and Richard Barrett of Treasury Holdings and was bought by BCP and Midwest Holding for a knock-down price in 2013.