Companies
Monart Spa owner Griffin sees profits fall as inflation bites
Hotel operator has returned to pre-Covid levels, despite inflation hurting its bottom line
Family-owned Griffin Hotel Group, which owns several hotels in the south-east of Ireland, reported a profit of €1.8 million in 2022 down from €2.9 million the previous year.
The group, which operates Monart Destination Spa in Enniscorthy, saw turnover worth €25 million, which compares to pre-pandemic levels, but was “significantly impacted” by the rising cost of food and energy according to its annual accounts.
