Rochestown profits climb on unchanged revenues
Pre-tax profits at the firm that operates the four-star Rochestown Park Hotel in Cork increased by almost 20% to €1.2m last year even as revenues almost stood still.
Accounts filed by Windsor Surprise Ltd to the Companies Office show the firm’s revenues increased only slightly, to €11.48m.
The hotel, which was established by the Lehane family, employs 214 people.
The hotel was developed by the late Dónal Lehane with his brother and business partner, Johnny Lehane. Seán Lehane also serves on the board with John Donovan.
The directors say they “are pleased with the trading performance for the year”.
And they add: “The company will continue to consolidate its market share given the economic recovery facing the hotel sector”.
Its rates bill totalled €518,215 while the insurance bill increased from €239,643 to €261,975.
Other significant costs included cleaning costs of €278,238, and €90,999 in security.
It paid €479,312 on fixed assets in 2017, significantly more than the €233,088 spent in 2016.
The amount owed in bank loans fell to €19.8m from €20.7m, and its interest payments bill came to €631,238.
Directors were owed €665,600 by the firm, while their total pay was unchanged at €103,680. Pay to key managers increased slightly to €241,538. No dividend was paid out last year.
Administration expenses of €7.4m brought an operating profit of €1.85m, while staff costs increased to €4.54m from €4.53m.
