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TIFCO, an Irish hotel operator, reported a significant profit rise, largely due to hosting refugees.
TIFCO, one of Ireland's largest hotel operators, reported a 28% rise in pre-tax profits to €21.73 million last year, largely due to state contracts for housing refugees.
Revenues increased by 14% to €49.3 million, aided by a €5 million gain from asset sales, including the Crowne Plaza Hotel in Dundalk.
Despite reducing staff from 316 to 254, employment costs rose to €11.98 million.
The company also received €16.2 million for accommodating refugees in 2021.
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TIFCO, un operador de hoteles irlandés, informó de un aumento significativo de las ganancias, en gran parte debido a la acogida de refugiados.