Saturday 19 January 2019

Hotel back in profit

LUXURY hotel the Ormonde has returned to generating a healthy profit after "substantial trading losses" in previous years.

The four-star hotel operated by one of the country's best-known developers, Jerry O'Reilly, had accounts which show that it had a trading loss of €1.37m in the 12 months to the end of December 2009.

But a note attached to the filings shows that the Kilkenny Ormonde's management accounts recorded a trading profit before rent and interest of €180,021 in the nine months to the end of September 30 last which was achieved through reducing operating and labour costs to a minimum level.

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