The hotel firm that operates the Clifden Station House Hotel in west Galway which hosted the controversial ‘Golfgate’ dinner returned to a pre-tax profit last year.
New accounts for the operator of the Connemara hotel, Western Railway Operations Ltd show that the company recorded a very modest pre-tax profit of €3,534 in the Covid-19-hit 12 months to the end of May 31st, 2021.
The 12-month period covers the hotel staging the contentious Oireachtas Golf Society event on August 19th, 2020.
The pre-tax profits of €3,534 followed the company recording a pre-tax loss of €145,510 in the prior year - a positive swing of €149,045.
The hotel firm recorded a post tax loss of €1,571 for last year after paying corporation tax of €5,105. The post tax loss takes account of non-cash depreciation costs of €118,548, while it has reduced the company’s accumulated profits to €178,761 at the end of last May.
The hotel business also includes self-catering apartments, an indoor swimming pool, spa and a 220-seat theatre.
Numbers employed by the business last year reduced from 38 to 27. The company’s cash funds last year increased from €62,825 to €94,979.
Golfgate dinner
Two directors of the firm, hotel owner John Sweeney and his son and general manager of the hotel, James Sweeney are two of the defendants in an alleged Covid regulations breach prosecution concerning the Golfgate dinner.
The two are contesting the criminal prosecution and the case at Galway District Court is scheduled to resume later this week.
In a reference to the Covid-19 impact on business a note attached to the accounts - signed off on January 28th - states that the directors are of the opinion that the company is adequately resourced to trade through the disruption brought about by Covid-19.
The directors state that the Covid-19 “has resulted in serious disruption to the business”.
The note goes on: “It was forced to close as a result of Government imposed trade restrictions for a significant period in 2020 and 2021.”
It adds that the tourist industry is not expected to make a reasonable recovery until Q1 2022. It states: “The international market is expected to recover during 2022 and into 2023.”
Ronan Sweeney and Frank Ford also sit on the board and the aggregate pay to directors increased by €10,268 from €60,764 to €71,032 last year made up of €68,486 in pay and pension contributions of €2,546.
