McKeever Hotels director hails profits hike but warns over costs
McKeever Hotels more than doubled its turnover and pre-tax profits in its first full year of trading since the Covid-19 pandemic.
Turnover for the family-owned company, which has five hotels in its portfolio, went from £5.4m to £13.6m in the year to September 2022, with pre-tax profits up from £0.7m to £1.9m.
The business owns Dillons Hotel in Letterkenny, as well as the Dunsilly and Dunadry in Antrim, Corr’s Corner in Newtownabbey and the Adair Arms in Ballymena.
Staff numbers went up 20% from 263 to 314, the accounts said, with a corresponding rise in pay bill from £3.5m to £5.3m.
Director Eddie McKeever said the turnaround post pandemic was welcome but that the sector was no beset with other economic problems
“Although not all markets came back in that year we found staycations and local business really came back very strongly and we got a real bump from this.
“We are delighted with the results after all the hard work of reopening and also coming back with a 97% retention rate of our staff.
“That really allowed us to hit the ground running and deliver our professional friendly service and excellent quality we are known for from day one.”
Other improvements had been carried out, he said. “Over the last year we have invested in a new reception, lobby bar and toilets in Dunadry Hotel and refurbished apartments, bedrooms and suites in Dillons Hotel.
“We have also invested in solar panels and new boilers and building management systems to help with the rising cost of energy and to hit our environmental goals.”
“Since these results and while we were doing these refurbishments the world changed again and we have found all prices going up.
“We have been hit by energy prices, food prices, staff costs, Interest rates and insurance costs all going up and continue to do so with duty going up on alcohol now on August1. We can not possibly put all these costs onto the customer especially as they are also struggling.
“On a positive note although some markets have reduced compared to last year such as the staycation market there are more international tour visitors and corporate visitors which has helped.
“It will still be a very difficult year at the bottom line but we remain positive that costs will settle down and the environment will become workable for everyone for the future.”
