Kildare’s Carton House returns to profit in 2014

Before paying rent and interest costs, profits at the four-star hotel resort Carton House climbed 68% to €1.55m in 2014.

New figures show that profits before interest and rent at Chockablock Ltd that operates Carton House in Co Kildare rose to €1.55m from €919,000. 

It posted a pre-tax profit of €148,000, after having posted a loss of €1.34m in 2013.

The figures show 2014 revenues fell marginally to €16.63m from €17.1m. 

Staff numbers at the 165-bedroom hotel were unchanged at 308 and total staff costs came to €6.83m.

In 2011, bad bank Nama acquired the group’s loans. 

The directors say in the accounts that they are in discussions with other investors and lenders to secure continuing finance for the company. 

The firm in 2014 paid €1.2m in rent, interest payments of €192,000 and had non-cash depreciation costs of €376,000. 

The rent had fallen sharply from the €2m it paid out the previous year.

The shareholder deficit decreased slightly to €9.1m and its cash pile fell to €511,000 from €596,000.

Separately, accounts filed by the operator of the Shelbourne Hotel in Dublin show a pre-tax profit of €1m in the first year of operation. 

US property investor Kennedy Wilson took control of the hotel when it purchased the hotel’s debt in 2013.

The accounts for KW Shelbourne Ops Ltd show revenues of €14.4m between December 18, 2013 and the end of December in 2014.

It had operating lease rentals of €2.58m and non-cash depreciation costs of €394,027.


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