K Club heads for the black as revenues rise 10%

Revenues at the five-star K Club hotel and golf resort in Kildare, which is owned by Irish businessman Michael Smurfit, rose 10 per cent last year to about €13 million as the economic recovery and increasing numbers of overseas visitors boosted business.

The K Club was "operationally breakeven" in 2013, its chief executive and general manager Michael Davern said yesterday. Mr Davern is "quite optimistic" the business will return to the black this year. The resort is undertaking a €20 million expansion, that includes an additional 70 bedrooms, the conversion of a former spa into a 25,000sq ft conference centre and a second bar. "We're already ground floor down [on the bedrooms] so it's moving quickly," Mr Davern said.

The extension will be completed in August and ready for use in September, bringing the number of bedrooms to 138.

“Being a [former] Ryder Cup venue, and the way we can attract international groups, that number [of bedrooms] is key,” Mr Davern said, describing it as a “sweet spot” for the business.

Average occupancy last year was 66 per cent. “We’d like to be up at 72 to 74 per cent but that was a key marker post the recession.” Its occupancy went “below 40 per cent” following the economic crash. “It was a really tough time.”