The company that operates the five-star Powerscourt Hotel in Co Wicklow has reported net profits of €1.62m. according to a report in the 'Irish Examiner'
Accounts filed by Sugarloaf Ventures Ltd also show revenues increased 12% to €20.59m last year. The accounts benefited from a corporate tax credit of €506,322.
CEO of Tetrarch Capital, Michael McElligott said: “We’re very pleased with the material increase in turnover at Powerscourt Hotel, and equally as important, we continue to see significant improvements in our profitability compared to previous years.”
The hotel has seen strong growth in visitor numbers from the European and US markets.
The hotel includes 194 rooms, including 93 suites and a 30,000sq foot spa with 20 treatment rooms, as well as two golf courses.
Tetrarch also operates the Marker Hotel in Dublin, the Mount Juliet resort in Kilkenny, Citywest in Dublin and the Killashee House hotel.