Carton House Hotel Losses Surge 36% to €3.5m
- The five-star Carton House hotel resort in County Kildare experienced a 36% increase in pretax losses in 2023,reaching €3.47 million, even as revenues rose by 8% too €22.78...
- Belmullet Hospitality Group Ltd, the company operating Carton House Hotel, Golf and Spa Resort, reported pretax losses of €3.47 million for the year ending December 31, 2023.
- The resort's cash funds decreased from €3.13 million to €2.96 million during the year.
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Carton House Hotel Reports Increased Losses Despite Revenue Growth
Table of Contents
The five-star Carton House hotel resort in County Kildare experienced a 36% increase in pretax losses in 2023,reaching €3.47 million, even as revenues rose by 8% too €22.78 million. Financial filings reveal details about the resort’s financial performance and its ongoing investments.
Financial Performance in 2023
Belmullet Hospitality Group Ltd, the company operating Carton House Hotel, Golf and Spa Resort, reported pretax losses of €3.47 million for the year ending December 31, 2023. This represents a 36% increase compared to the previous year’s losses. Despite this, the resort saw its revenues climb by 8% to €22.78 million.
The resort’s cash funds decreased from €3.13 million to €2.96 million during the year. As of December 31, 2023, the business had outstanding bank loans totaling €16.8 million and owed €17.38 million to group undertakings.
Resort Overview and Recent Developments
Carton House is situated on 1,100 acres of parkland near Maynooth, County Kildare. The resort is renowned for its golf courses and has become a popular training venue for the Irish men’s rugby team. The resort is further enhancing its profile as a sporting destination.
Carton House will host the KPMG Women’s Irish Open in both 2024 and 2025 at its O’Meara golf course, solidifying its position as a premier venue for golf tournaments. The Irish Times reported on the continuation of this partnership in September 2023.
Financial Details Breakdown
| Financial Metric | 2023 | Change from Previous Year |
|---|---|---|
| Pretax Loss | €3.47 million | +36% |
| Revenue | €22.78 million | +8% |
| Cash Funds | €2.96 million | -€0.17 million |
| Bank Loan | €16.
|