Barberstown Castle Hotel chief executive Amanda Torrens, who took over co-management of the business in 2021, has a background in healthcare, having previously owned the Brindley care home group.
Are you a saver or a spender?
I am a little bit of both. In today’s world of business, one never knows what’s around the corner. I like to keep a good reserve but every now and then I can’t resist spending on something special.
Do you shop around for better value?
Both personally and in business I always look for a bargain. I always like to get three prices to ensure I know I’m getting the best value. Ultimately, though, I never sacrifice quality over price.
What has been your most extravagant purchase and how much did it cost?
In 2021 I sold my business, Brindley Healthcare, and then panicked and thought, what do I do now? An opportunity quickly arose and I purchased Barberstown Castle, in Straffan, County Kildare. As far as I was concerned, I was buying a very significant piece of Irish history, which to me is priceless.
Mortgage holders to see dramatic fall in repayments
The Irish Times Business Person of the Month: Cathal Fay, Yuno Group
The power market should reflect that renewable energy is cheaper
Shed Distillery founder Pat Rigney: ‘We’re very focused on a premium position but also on giving value for money to consumers’
What purchase have you made that you consider the best value for money?
I have an addiction to online auctions. My friend and I spend many an evening at the computer with a good bottle of wine, and get somewhat carried away. On one occasion, I purchased a statue of The Spirit of Ecstasy and now realising its value, I see that I have made a healthy profit!
How did you prefer to shop during the Covid-19 restrictions – online or local?
Life during Covid-19 was very different for me as I was involved in the healthcare industry. While I had more freedom than most, I was always conscious of the pandemic and the effect it has on businesses. Shopping online was my preferred option, but I would always strive to support local businesses.
Do you haggle over prices?
I grew up in a rural Donegal farming community and became accustomed to bartering and dealing at marts and in the horse trade industry. I believe this rubbed off on me as I will always haggle for the best deal available.
How did the Covid-19 crisis change your spending habits?
During the pandemic, one of my least favourite tasks – the weekly shop – became an online event. I began consuming vitamins and minerals that were important for proper immune function during Covid-19, and I have continued this pattern as a result.
Do you invest in shares?
Yes. I have a personal portfolio that is managed and spread across some investments to minimise risks where possible.
Cash or card?
Cash is always king, but at the moment I find that I use cards a lot more.
What was the last thing you bought and was it good value for money?
I recently bought a racehorse from France so I will be able to answer that question when the flat season begins!
Have you ever successfully saved up for a relatively big purchase?
I have always tried to remember to adopt the ‘50-20-30′ savings rule: on one occasion this allowed me to purchase the car of my dreams.
Have you ever lost money?
Yes, on business ventures in the past. I just had to make it up on the next deal. As we all know, there are risks of losing on every business deal, but on the upside, there are also opportunities for gain.
Are you a gambler and, if so, have you ever had a big win?
I love the odd flutter! Years ago, I bought a racehorse and in her first race, I got the price of the horse back in a bet. She was 40/1 odds. Believe me, I never tried that again!
Is money important to you?
The importance of money cannot be denied yet while money provides means, it is not everything. To me, what is more valuable than money is your health, relationships and family.
How much money do you have on you now?
I keep a €100 note at the back of my cards for emergencies. I call it my running away money but I guess it won’t get me very far!
In conversation with Tony Clayton-Lea
- Sign up for Business push alerts and have the best news, analysis and comment delivered directly to your phone
- Find The Irish Times on WhatsApp and stay up to date
- Our Inside Business podcast is published weekly – Find the latest episode here
