Award-winning Galgorm owners almost double profits in a year
THE hospitality group in charge of the award-winning Galgorm Resort & Spa in Ballymena almost doubled its profits last year, its latest accounts show.
Tullymore House Ltd, which also runs Fratelli's Italian restaurant and Café Parisien in Belfast saw pre-tax profits rise from £3.7 million to £7 million in 12 months, a jump of 89 per cent. The group also reported turnover growth of 12 per cent, rising from £19.9m to £22.3m in the year to October 31. In another plus the average number of staff numbers increased by over 10 per cent in 12 months from 452 to 498, taking the annual wage bill up to £9.3m.
In the strategic report published alongside the company accounts, directors described the group's financial performance as "satisfactory" and remain committed to ongoing growth.
"Looking ahead for the next five years, the board remains committed to reinvesting in staff development and well-being alongside continued reinvestment in the group's principal activities," they said
"The group's overarching strategy remains focused on the delivery of a successful, market-leading tourism product and hospitality provision for both the local economy and for Northern Ireland as an international tourism destination. This is underpinned by the board's continued investment commitment."
During the year the group sold its investment in Bedford Hotel Limited and added a new subsidiary, Fratelli (Ormeau Road) Limited. The latter is behind a proposed £4m hotel, bar and restaurant complex at the site of the old Holy Rosary Church on Ormeau Road. Plans were submitted to Belfast City Council for the 22 bedroom development before Christmas and speaking in March Galgorm general manager Colin Johnston said he was "extremely positive" they will get the green light before the end of the year. He hopes the new business will be up and running within three years and create 75 to 100 jobs.
In October the Galgorm announced plans for a new £14 million extension, which could create 100 new jobs. The major extension includes an additional 64 bedrooms, an exclusive roof top spa, additional external spa garden and executive lounge. If approved it would bring the total investment at Galgorm to £50 million over the past 10 years.
The publication of the Tullymore House accounts comes just a week after the Galgorm Resort & Spa picked up two prestigious international awards. Last weekend the hotel played host to the World Luxury Spa & Restaurant Awards, which attracted over 200 guests from 42 different countries. It was the first time the awards have been held in the UK or Ireland. On the night the Ballymena resort took the top award in two categories, with The Spa at Galgorm scooping the coveted title of Best Luxury Countryside Spa (UK), while the Resort's 3AA Rosette River Room restaurant was named the Best Luxury Hotel Restaurant (Northern Europe).
Galgorm general manager, Colin Johnston added:
“We could not be more thrilled to have hosted such an exceptional event for the crème de la crème of the global hospitality industry. The hosting of these awards marks another milestone on Galgorm's journey to becoming an internationally renowned destination Spa."