Turnover closes on €35m for Monart spa owner and luxury hotels operator Griffin group
A guest relaxes at Monart in Wexford. Turnover at hospitality group Griffin Hotels Group, which operates destinations including Monart Destination Spa and the Ferrycarrig Hotel in Wexford, and Hotel Kilkenny, increased by 14% to almost €35m, the company said on Thursday.
Turnover at hospitality group Griffin Hotels Group, which operates destinations including Monart Destination Spa and the Ferrycarrig Hotel in Wexford, and Hotel Kilkenny, increased by 14% to almost €35m, the company said on Thursday.
Griffin Group Hotels recorded a turnover of €34.96m in 2024, up from €30.48m in 2023. The company achieved profits of 2.04m, up from €1.76m in 2023.
“We are proud to have delivered another year of growth, maintaining profitability despite a challenging cost environment," said chief executive Michael Griffin. "Our focus remains on reinvesting in our sustainability roadmap, which will see a further investment of over €3m in 2026. The combination of solid financial performance, sustainability leadership and product reinvestment reinforces our long-term vision for responsible and resilient growth."
In recent years the hotel group refurbished bedrooms at its Ferrycarrig Hotel and Hotel Kilkenny properties, with fitness clubs at both hotels also upgraded. The group previously invested in the significant refurbishment of all bedrooms at the five-star Monart property, while a 10-acre solar farm at the Monart property began energy production in April 2023.
The company said it has removed 44% of its 'scope 1 and scope 2' carbon emissions - direct emissions from the company itself, or from energy used in the hotels - and has committed to further reducing greenhouse gas emissions by 54.6% over the next eight years.
“Our approval under the Science Based Targets framework demonstrates tangible targets with real accountability. We are decarbonising our operations, commencing engagement with suppliers, and transforming our business model to meet global climate standards through sustained and significant investments," said director Liam Anthony Griffin.
The Griffin Group Hotels was founded in 1960 by Michael and Jennie Griffin, and further developed from the 1980s to early 2000s by former All-Ireland winning Wexford hurling manager, Liam Griffin. Mr Griffin's sons Michael and Liam Anthony now run the business.
Griffin Group Hotels also includes its Monart Day Spa venture in Dorchester in England, a partnership with the Duchy of Cornwall, founded six years ago.
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