Revenues at Parknasilla Resort & Spa down in 2019

Revenues at Co Kerry’s Parknasilla Resort & Spa hotel fell by 5pc in 2019, partly due to the hike in VAT for the hospitality sector, according to managing director Tony Daly.

Daly said that the hike has had a negative impact on business, even though the hotel didn’t pass it on to customers. “Many smaller businesses, such as restaurants, have closed primarily due to this VAT hike that was ill-conceived by the Minister of Finance,” he reportedly claimed. “The cost of doing business increased across the board in 2019, impacting on operational profit. UK business has decreased due to the weak sterling exchange rate.”

In 2018 revenues at Parknasilla increased 6pc to €8.5m, although there was a pre-tax loss of €631,480, compared with a profit of over €1.7m in 2017.

Bank of Scotland appointed a receiver to Parknasilla in 2012 and it was purchased for €11m by a consortium led by Daly and a Swiss financier. This year it is marking 125 years in business with a range of celebration offers.

The Spa at Parknasilla, which is surrounded by islands, inlets and hidden beaches, has an exclusive partnership with Sothys, with the two coming together to provide a menu of treatment rituals that combine sensoriality, technique and a personalised approach to nurture both the bodies and minds of guests.