The company operating the five-star Park Hotel Kenmare in County Kerry recorded pre-tax losses of €877,932 in 2024 following an €18m investment in the property. Bryan Meehan purchased the 46-bedroom hotel in November 2023. Revenues reached €5.62m from 27 October 2023 to December 2024. Earnings before depreciation amortisation acquisition costs and loan interest amounted to €228,305. Non-cash depreciation totalled €667,358 with interest costs at €300,000.
The focus remained on redevelopment with the €18m investment financed internally without third-party debt. Further capital projects are planned for 2025. Profitability returns are not prioritised in 2025 and 2026 with full-year 2027 expected to reflect the true trading position post-completion. The hotel employed 73 people with staff costs at €2.59m. Shareholder funds stood at €8.6m with tangible assets valued at €21.11m before depreciation.
Bryan Meehan shared “Since our family took ownership in November 2023 our primary goal has been to protect what makes the hotel so special. The connection to the community farms and surrounding land of Kenmare the outstanding amenities we are proud to offer and most importantly our incredible team some of whom have been at Park Hotel Kenmare for upwards of four decades.”
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