Citywest Hotel on course for revenues of €30 million
By Maurice Garvey
CITYWEST Hotel is on course to enjoy record revenues of close to €30m this year.
With 764 rooms, the four-star Citywest Hotel is Ireland’s largest hotel and is part of Tetrarch Capital, whose interests include the Powerscourt, Mount Juliet, and Killashee hotels.
Citywest Hotel is on course to enjoy a record revenue of €30 million
Operating profits at Cape Wraith, which runs Citywest, indicate the hotel returned to earning a pre-tax profit of €279,420 last year after revenues increased by 2 per cent to €28.82m.
A spokesperson said 2018 was a “very strong year for the hotel” and year-to-date trading in 2019 is “well ahead of last year.”
Citywest features 30 different meeting and/or event venues, a convention centre which can hold up to 8,000 people and an 18-hole, par-70 championship golf course.
The pre-tax profit last year takes account of non-cash depreciation costs of €3.2m, and the business’s operating profit after depreciation and property costs increased materially to €2.1m last year.
The Saggart hotel employed over 50 new staff during the year, bringing their total to 383.
Staff costs last year increased to €9.39m.
A breakdown of revenues shows that €27.1m was generated from rooms, €1.2m from leisure and €437,871 from golf.
