Profits almost double to reach £7m at Galgorm Resort and Spa's owners
The group company behind luxury Galgorm Resort and Spa in Co Antrim and other hospitality businesses has reported a near doubling of pre-tax profits to £7m.
Tullymore House Ltd, which also owns two Fratelli pizza restaurants, also increased revenue from £19.9m to £23m in the year to October 31 2017.
During the year it also sold its interest in Belfast's Scottish Mutual Building - where it had previously planned to open another hotel - for £6.4m.
Employee numbers also grew during the year from 452 to 498.
The pizzeria business includes a pizza restaurant within Galgorm Resort and a separate venue in Belfast's Great Victoria Street.
The group plans to open a hotel and third pizzeria by converting a derelict Catholic church, the Holy Rosary, on Belfast's Ormeau Road. It has set up subsidiary company Fratelli (Ormeau Road) Ltd as a vehicle for the property.
The group accounts for the business, which is led by brothers Paul and Nicholas Hill, also record the sale during the year of its interest in the Scottish Mutual building, which is to be turned into a hotel by Liverpool developer Lawrence Kenwright.
The hotel was held in the limited company Bedford Hotel Ltd.
A strategic report filed with the accounts said that the directors were "satisfied" with the group's performance for the year.
And it said that the group's strategy was to deliver market-leading tourism and hospitality provision for the economy here, and for Northern Ireland as an international destination, adding: "The group's business model caters to the delivery of a luxury hospitality and tourism product to core market segments and to new and developing markets, supported by renowned levels of impeccable and award-winning customer service delivery."
It predicted that the economic environment in which it operates would remain "broadly similar" over the next 12 months.
In May, Galgorm Resort and Spa announced it had acquired the bar and restaurant at nearby Galgorm Castle Golf Club for £600,000.
Earlier this month, it won two major awards at the World Luxury Spa & Restaurant Awards 2018, while also hosting the event - the first time it had been held in Ireland or the UK.
The Spa at Galgorm won the category of best luxury countryside spa (UK) while its River Room Restaurant was named the best luxury hotel restaurant in Northern Europe.
General manager Colin Johnston said: "The hosting of these awards marks another milestone on Galgorm's journey to becoming an internationally renowned destination spa."