The company behind Kelly’s Resort Hotel & Spa in Co Wexford increased its net profit by 20 per cent to about €527,000 last year, while separate accounts for Renvyle House Hotel & Resort in Co Galway show its profit narrowed to €47,000 over a similar period.
The family-owned Kelly’s Resort Hotel, which is based in Rosslare, increased its turnover 11.5 per cent to almost €19.4 million in 2023, according to documents just filed to the Companies Registration Office.
While the cost of sales rose 10.8 per cent to €4.4 million and administrative expenses increased 7.8 per cent to €14.3 million, the four-star hotel’s revenue growth was enough to give it an operating profit of €740,966. This was up almost 30 per cent on 2022, a year when its operating profit had been swelled by Government Covid-19 supports of about €392,000.
The company employed an average of 286 people in 2023, up from 267 in 2022.
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A breakdown of its turnover shows that €13.1 million was derived from the hotel, while the bar and other activities generated almost €6.3 million.
The hotel is owned by managing director Bill Kelly, whose great-grandparents William J Kelly and Mary Kelly founded the establishment in 1895, originally as Kelly’s Tea Rooms. Laura Kelly, his eldest daughter, is also a director of the company and the hotel’s manager.
Meanwhile, unaudited abridged accounts for Renvyle House Hotel Limited for the year to the end of January 2024 show that it made a profit of €46,910 in the period, which was down from €323,076 in the previous 12-month period.
Government grants received by the company shrank from almost €176,000 in the year to the end of January 2023 to about €4,300 in the most recent accounting period.
The company behind the Connemara hotel, which employed an average of 55 people last year, had shareholders’ funds of €1,162,298 as of the end of January, up from €1,115,388, the accounts state.
The hotel, owned by John Coyle and his wife Sally Coyle, stands on a historic site, with a hotel first opened at the location by Caroline Blake in 1883. It has been in the Coyle family since 1944, while the Coyles’ eldest daughter Zoë Fitzgerald is also involved with the hotel, serving as its chair and marketing director.
The four-star hotel, set on a 150-acre estate on the Wild Atlantic Way, is a member of the Historic Hotels of Europe umbrella organisation.
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