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Cost Trim Helps Clontarf Results |
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Written by Frank Corr
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Friday, 03 September 2010 06:39 |
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Clontarf Castle hotel in Dublin, which is owned by investors including DID Electrical founder Gerry Houlihan, has reported a pre-tax profit of €647,000, compared to a €500,000 loss in the previous year.
Accounts filed for the business at the Companies Office reveal that gross profit at Clontarf Castle actually declined 15pc in the 12 months to the end of last October to €7.9m from €9.3m, as revenue fell from €12m to €10m. However, its administrative expenses also declined by 29pc, to €6.7m from €9.4m, in the previous period.
Enda O'Meara, the managing director of the Tifco Hotels group, of which Clontarf Castle is a part, told the Irish Independent that the reduction in operating costs was the result of pay cuts, some redundancies, but primarily driving greater efficiencies. He added that current year results for the hotel were likely to be in line with last year, but that the market remained extremely challenging, with average room rates down 30pc on their 2007 peak.
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Anti Tourism Policies Hit Industry |
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Written by Frank Corr
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Thursday, 02 September 2010 10:36 |
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This article by Frank Corr is in the current issue of 'Hotel and Restaurant Times'
Successive Ministers for Tourism have been happy to remind us of the importance of tourism to the economy, and their views are echoed by everybody from the Taoiseach to local Councillors.
Mary Hanafin is no exception, telling the Dail in a major speech on 22nd June that in 2009, ‘the tourism and hospitality sector represented almost 4% of GNP, provided up to 200,000 jobs, helped to generate €4 billion in foreign revenue earnings and generated in the order of €1.3 billion in tax earnings.’
She followed up, as have her predecessors, by spelling out how much money the Government invests in the tourism industry and the programmes which it delivers to develop the industry and promote Ireland as a visitor destination.
What Tourism Ministers politicians do not talk about however, is a range of Government policies and practices which militate against the growth of tourism in Ireland and which place obstacles in the path of potential visitors.
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Last Updated on Friday, 03 September 2010 06:45 |
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Written by Frank Corr
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Friday, 03 September 2010 06:37 |
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Sales OF Jameson Whiskey increased across the world in the last year, latest figures show. Despite continuing struggles at home, Jameson increased its sales by 12pc in the year ended June 30 on the back of strong sales in North America and Europe, according to Irish Distillers Pernod Ricard.
'The (economic) downturn is having a very negative effect on the performance of the drinks industry in general. Despite the challenging environment in Ireland, Jameson has grown share in the overall spirits sector, with a particularly strong performance on retail', said the company.
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