Ballyfin Hotel returns to profit as revenue rises to €3.73m – The Irish Times


One of the state’s most exclusive hotels, Ballyfin in County Laois, returned to profit last year as revenue more than tripled.

New accounts show Ballyfin Demesne Ltd recorded a pre-tax profit of €786,923, a turnaround from a loss of €1.86 million in 2020.

Revenues from the five-star country hotel, which Condé Nast Traveler recently ranked third in Ireland’s 10 best hotels for 2022, rose from 1.12 million euros to 3.73 million euros. The hospitality industry was shut down for the first five months of last year due to government Covid-19 restrictions.

Accommodation revenue saw the strongest improvement in 2021, rising from €624,315 to €2.23 million. Food and beverage revenue tripled to €1.27 million from €422,585 and other revenue was €225,762 from €75,016 the previous year.

The 21-room hotel has in the past hosted George and Amal Clooney as well as Kim Kardashian and Kanye West, who stayed there while honeymooning in Ireland in 2014.

The profit takes into account non-cash amortization charges of €590,243. It also includes the impact of State subsidies for €1.02 million. Separate figures released by the Revenue Commissioners show the company behind the hotel benefited from the state employee wage subsidy scheme last year.

Last year, the company’s number of employees increased by a third to 48 from 36 last year, as personnel costs increased by more than 50% to 1.85 million euros . The main managers received €387,027.

The rates advertised online at the hotel in November and December range from €620 per room per night to €2,310 per room per night.

The property was bought at auction by wealthy American Ballyfin owner Fred Krehbiel in 2002. He has since invested millions in renovating the Laois Estate.

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