Glenlo Abbey’s pre-tax profits more than doubled in 2017
Accounts show Galway hotel’s profit surge comes on the back of 10% rise in sales to €5.36m
Pullman restaurant at Glenlo Abbey in Galway. New accounts filed by Baswal Ltd show the hotel’s surge in profits came on the back of a 10 per cent rise in sales to €5.36 million
Pre-tax profits at the five-star Glenlo Abbey hotel on the outskirts of Galway city more than doubled to €529,661 in 2017.
The hotel is part of the MHL Hotel Collection – a joint venture between US billionaire John Malone, property developer John Lally and Co Down businessman Paul Higgins. The group’s portfolio of Irish hotels includes The Westin, The Morgan, The Beacon and The Spencer in Dublin and The Galmont in Galway city.
New accounts filed by Baswal Ltd show that the Glenlo Abbey’s surge in profits came on the back of a 10 per cent rise in sales to €5.36 million.
General manager Ronan O’Halloran said the hotel’s strategy of continuous investment over the past number of years “has allowed us to reposition our business model into the higher end luxury segment”.
“This strategy has delivered growth both in terms of occupancy and average room rate.”
Mr O’Halloran said that the performance continued in a similar fashion for 2018 and that 2019 was a very exciting year for Glenlo Abbey, with construction starting on a 25-bedroom extension to the 50-room venue in the fourth quarter.
He said the hotel had completed the refurbishment of 60 per cent of its en-suites rooms in the first quarter of this year.