Pre-tax profits at Sugarloaf Ventures Ltd, the operator of the Powerscourt Hotel resort, nearly doubled to €2m, driven by a 14pc rise in revenues from €23.16m to €26.42m.
The five-star Powerscourt Hotel is part of the MHL Collection, led by USbnaire John Malone, and was acquired for over €50m in 2019.
Employee numbers at Powerscourt increased from 235 to 297, leading to a rise in staff costs from €8.48m to €9.72m.
Accommodation and food/bar revenues at the hotel both saw significant increases, contributing to a gross profit of €14.2m, despite the company facing a shareholders’ deficit of €512,294 by the end of December.
