Profits at Tifco hotels group rise by 22%

Profits at the Goldman Sachs-backed hotel firm, Tifco increased by 22% to €4m last year.

New accounts for Tifco, which is the second largest hotel group behind the stock market-listed Dalata, show its revenues jumped 10% to €34.9m.

The directors state that occupancy and average room rates continued to show strong growth, with revenue per room growing by 12.5%. Tifco has 26 properties with over 2,583 rooms.