Ballyfin hotel returns to profit as revenues increase to €3.73m

One of the most exclusive hotels in the State, Ballyfin in Co Laois, returned to profit last year as revenues increased more than threefold.

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

Revenue at the five-star country house hotel, which Condé Nast Traveller recently ranked as third among Ireland’s top 10 hotels for 2022, jumped to €3.73 million from €1.12 million. The hotel industry was shut down for the first five months of last year due to Government Covid-19 restrictions.

Accommodation income showed the greatest improvement in 2021, rising to €2.23 million from €624,315. Food and beverage income trebled to €1.27 million from €422,585 and other income amounted to €225,762 from €75,016 the previous year.

Six things you need to do before retirement

---

Surprise! Bluey has become the Taylor Swift of children’s television

---

AIB shareholder worries his holding may be too small for share buyback

---

The Smurfits boost their investment in Kirby’s Tixserve

---

The 21-bedroom hotel has in the past hosted George and Amal Clooney as well as Kim Kardashian and Kanye West, who stayed there during their 2014 honeymoon to Ireland.

The profit takes account of non-cash depreciation costs of €590,243. It also includes the impact of Government grants of €1.02 million. Separate figures published by the Revenue Commissioners show the firm behind the hotel availed of the State’s employee wage subsidy scheme last year.

Numbers employed by the business last year increased by a third to 48 from 36 last year, as staff costs went up more than 50 per cent to €1.85 million. Key management personnel were paid €387,027.

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

The property was purchased at auction by Ballyfin’s wealthy American owner, Fred Krehbiel, in 2002. He has since invested millions of euro into the refurbishment of the Laois estate.