Pre-tax profits at the luxury five-star Druids Glen resort in Co Wicklow last year more than doubled to €987,587.
Newly-filed accounts for the resort’s holding company show an 18% rise in gross profit to €9m for the year.
Speaking yesterday, Druids Glen chief executive Edward Stephenson said: “I am pleased with the 2015 results.
All areas of the business experienced good growth, with corporate meetings and conferences delivering a particularly strong performance.
“This performance has helped to produce RevPar [revenue per available room] growth of 24% and the ongoing capital investment programme has successfully positioned the resort to benefit from the upturn in the economy as more customers seek value outside of the Dublin hotel market.”
Mr Stephenson added that bookings for 2017 are encouraging, however the uncertainty created by the Brexit vote remains “an ongoing concern”.
“The resort is performing well in 2016 and I am particularly pleased by the healthy upturn in our golf business.”
Numbers employed at the hotel last year rose from 158 to 205, with staff costs going up from €3.7m to €4.39m.
A note attached to the accounts states that since re-branding as Druids Glen Resort and carrying out a comprehensive restructuring programme, the company has experienced positive trends in the past five years.
“This has resulted in increased occupancy levels and increased revenue year-on-year,” the company said, adding that its improved trading results over recent years have enabled it to meet banking, creditor, and revenue obligations as they fall due.
“The company, however, is still dependent on the continuing financial support of [parent firm] PW Ltd and the directors have received confirmation that such financial support will be forthcoming,” it added.
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