Guestford Ltd made €11.3M in pre-tax profit from 2023–2025 by housing asylum seekers in Dublin’s Red Cow Moran Hotel, funded by €80M in Irish government payments.

Guestford Ltd, operator of Dublin’s Red Cow Moran Hotel, received over €80 million from the Irish government from 2023 to 2025 to house asylum seekers, driving its pre-tax profits to €11.32 million in 2023—nearly double the prior year—on a 54% revenue rise to €32.66 million. The hotel, which has 320 rooms and is owned by the Moran family, shifted from public bookings to government accommodation, earning more from the State contract than it did in 2019. It received €26.5 million in 2023, €35 million in 2024, and €25.3 million through September 2025. Operating profits rose 69% to €13.43 million, staff increased from 175 to 232, and cash reserves more than doubled to €7.16 million. Directors’ pay rose to €482,225, and post-tax profits reached €9.68 million. The hotel remains closed to the public.