TIFCO Group’s pre-tax profits surged by 28pc to €21.73m last year, aided by accommodations for International Protection applicants and refugees.
Revenue rose by 14pc from €43.15m to €49.3m, with an additional €5m gained from the disposal of the Crowne Plaza Hotel in Dundalk.
TIFCO is one of Ireland’s largest hotel operators, managing nearly 3,000 rooms, primarily in Dublin, and benefiting from state contracts that contributed significantly to profits.
Despite a reduction in direct employment from 316 to 254, employment costs increased, reflecting an ongoing investment in staff amid strong operating cash flow.
