The Slieve Russell Hotel in Co Cavan has seen a 16pc increase in revenues from €16.47m to €19.05m, exceeding the original budget since June last year.
The hotel, with 224 bedrooms and leisure facilities, is currently on the market for €35m and the sales process is expected to conclude by the end of the year, managed by CBRE on behalf of IBRC liquidators.
Operating profits for the Slieve Russell were €1.85m for the 12 months to June, but interest payments to IBRC (in special liquidation) of €1.848m reduced pre-tax profits to just €9,000.
Despite significant inflationary increases in costs, the outlook for 2024 is positive with trading expected to remain in line with 2023, as the board continues to invest in maintaining the property to a high standard with a total of €7.5m in capital investments made since 2019.
