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Company report: McKeever Hotels

 

By John Simpson

The McKeever Hotels Group is a family-owned business which has been growing in recent years, partly as turnover in the original business increased and after the expansion of the asset base in new investments. The group developed the hotel at Corr's Corner, near to Glengormley, but now also owns the Dunsilly Hotel near Antrim, close to the M2, and the Adair Arms in Ballymena.

In addition, through the ownership of Dillons Hotel and holding 87% of the capital of the Letterkenny Court Hotel, the group has an investment in Co Donegal.

In recent years, group business turnover has increased steadily although this was not directly reflected in profits earned. After a fall in operating profits and pre-tax profits in 2015, the more recent year has shown a recovery to record better results than in 2014.

The registered results show that the reliance on bank lending to support the business has decreased in two years by over £0.8m to just over £5m in September 2016. This improvement has been achieved even in a period when capital spending has averaged nearly £1m in two of the last three years.

Part of post-tax profits have been retained to re-invest in the business.

In a reflection of the nature of operating costs in the hotel industry, the wage and salary bill accounts for just over one-third of the group turnover revenue.

Employment averaged 189 people in 2014 and has increased to 233 people in 2016.

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