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Galgorm Manor owner sees revenue rises despite hotel trade uncertainty

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Positive: The company behind the Galgorm Resort and Spa has posted a rise in revenue

Positive: The company behind the Galgorm Resort and Spa has posted a rise in revenue

Positive: The company behind the Galgorm Resort and Spa has posted a rise in revenue

The group company behind Co Antrim's Galgorm Resort and Spa has reported an increase in revenue to £26.8m.

Pre-tax profits at Tullymore House Ltd were down from £4.2m to just under £4m in the year to the end of October 2019. Employee numbers also grew from 526 to 589.

However, over the year to the end of October 2019, revenues had gone up by 11% from £24.1m the year before. Net assets were also up from £14.3m to £16.4m.

As well as Ballymena's luxury Galgorm, the business owns The Rabbit Hotel in Templepatrick - which it launched in July after coronavirus restrictions were lifted. It also owns restaurants Fratelli and Cafe Parisien in Belfast though both venues are closed and have not reopened since lockdown.

Summing up its business model, a group strategic report said it "caters to the delivery of a luxury hospitality and tourism product to core market segments and to new developing markets, supported by renowned levels of impeccable and award-winning customer service delivery".

The strategic report also described the impact of Covid-19 on the business. Its venues have been closed since four weeks of new restrictions were introduced on October 16.

It said: "Whilst the directors are content that the business is in a strong financial position, they recognise that an extension to the current restrictions, or additional periods of restriction in the future, cannot be ruled out.

"Accordingly, the future impact of such events is a risk which the directors have factored into the business planning process and which they continue to monitor and assess on an ongoing basis."

The group is also planning to open a new Fratelli pizza restaurant and boutique hotel on south Belfast's Ormeau Road.

Colin Johnston, managing director of Galgorm Collection - the trading name for the group - said it had appointed a consultant to progress the project.

And he told Belfast Telegraph that an extension to the furlough scheme until the start of December was a welcome development for the company and its staff.

The group is now targeting a reopening date of November 13 when the four weeks of restrictions are due to expire. But he said that with four weddings booked for the Galgorm over the rest of November, and 20 in December, it would be crucial to know what exact restrictions will prevail for the hospitality industry. He said: "We'll need to know about numbers and table size so we know how wedding banquets will look and how Christmas will look."

But planning ahead for the "normal hotel stay" of two or four people was simpler.

Belfast Telegraph


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