Monart Spa owner Griffin posts 9% rise in revenues
Griffin Hotel Group sees revenue climb to nearly €23 million for 2016
Monart Spa: hotel’s owner Griffin Hotel Group reported a 9% increase in revenue in 2016. Photograph: Cathy Reynolds/Kennedy PR
The Griffin Hotel Group, which owns a number of hotels in the southeast of Ireland, has posted accounts for 2016 showing revenue growth of 9 per cent for the year.
Turnover for the group grew to €22.8 million with operating profit, excluding exceptional items, at €3 million, representing a growth of 12 per cent since 2015.
The hotel group employed an average of 446 people across 2016, with this increasing to over 475 at peak periods, and says that 77 per cent of its turnover – €17 million – went back into the local economy through staff wages and direct suppliers within counties Wexford and Kilkenny.
The group was founded by businessman and All-Ireland winning Wexford hurling manager Liam Griffin and includes the Ferrycarrig Hotel outside Wexford town, the Monart Spa resort near Enniscorthy and Hotel Kilkenny in Kilkenny city.
Commenting on the 2016 company accounts, chief executive Michael Griffin said that “excluding increasing asset values, the underlying profitability of the business in 2016 continues to endorse the direction we have set for the company”.
He described 2016 as “a positive year for the group and the culmination of successful teamwork by our people and key stakeholders who together are focused on delivering great customer experiences”.