Ballyfin is considered a ‘dream destination’
Ballyfin Demesne has played host to a number of high-profile celebrities. Photo: Naoise Culhane Photography
Pre-tax losses at one of the most exclusive hotels in the country, Ballyfin Demesne in Co Laois, increased more than fourfold to €389,281 in 2024.
Recently filed accounts show Ballyfin Demesne Ltd recorded the sharp increase in pre-tax losses as revenues decreased by 3.5pc from €6.85m to €6.61m. The pre-tax loss for 2024 takes account of non-cash depreciation costs of €617,020.
The 21-bedroom Co Laois hotel has hosted George and Amal Clooney in the past, while Kim Kardashian and Kanye West spent time there during their 2014 honeymoon to Ireland. Last year, Ballyfin retained its prestigious ‘three key’ ranking in Michelin’s 2025 Key Hotels. The three key status is awarded for “an extraordinary stay” where such a hotel could be “a destination for the trip of a lifetime”.
Ballyfin enjoyed a further boost last year when it secured a much sought-after Michelin star for its State Dining Room restaurant.
Those seeking to dine there and enjoy the food served by executive head chef Richard Picard-Edwards can pay €125 per person for the a la carte menu and €165 per person for the tasting menu.
The 2024 accounts show Ballyfin’s accommodation income declined from €4.29m to €4.01m, while “food and beverage” income increased marginally from €1.93m to €1.95m. “Other” income increased from €627,671 to €646,889.
Numbers employed by the business increased from 93 to 96 as staff costs rose from €3.2m to €3.34m. Pay to key management personnel reduced from €367,825 to €350,113 in 2024.
At the end of December 2024, the firm had shareholder funds of €22.84m.
This was made up of called-up share capital of €53.76m, other reserves of €6.7m offset by accumulated losses of €37.62m.
The property was purchased at auction by the Chicago-based Krehbiel family and they have invested millions of euro into the refurbishment of the estate since acquiring the property in 2002.
In a recent Labour Court decision, it dismissed former food and beverage assistant Jack Cuddy’s case for constructive dismissal against the Ballyfin hotel firm.
Deputy chairperson at the Labour Court Katie Connolly found that Ballyfin Demesne Ltd did not repudiate Mr Cuddy’s contract of employment or behave in such an unreasonable manner as to warrant Mr Cuddy’s resignation in April 2022.
source