Teamwork is key to Griffin success
The CEO of the Griffin Hotel Group, which celebrates 56 years in business this year, cites 'great teamwork' as the key factor for the group's continued success.
The Griffin Hotel Group's 2015 accounts, which will be lodged with the Companies Office within the next two weeks, will show further growth in 2015 over 2014, with turnover in 2015 growing to €20.7 million, an increase of 12.2 per cent on 2014. Group operating profit increased by 27 per cent on 2014 to €2.6 million.
The group contributed 67 per cent of this turnover, approximately €14 million, back into the local economy through staff wages and direct suppliers within Wexford and Kilkenny.
In 2015 the Group had an average of 433 employees for the year, increasing this figure to over 450 during peak periods.
Third generation member of the family business Michael Griffin has held the role of CEO since 2012 and manages the business with his brother and fellow director Liam Anthony Griffin. Liam Griffin is the Chairman of the board of Griffin Hotel Group.
Commenting on the 2015 company accounts Michael Griffin said, 'a hotel is a village, one which requires great teamwork and a focus on the customer experience in order to succeed. The Griffin Group has been fortunate to have succeeded in its corporate goals and strategy; which is a testament to the hard work and commitment of all our team.'
The group this month agreed a five-year funding agreement with AIB who will serve as its long-term funding partner. According to Michael the deal with enable the business to achieve its future growth ambitions as one of Ireland's leading premier leisure hospitality groups.
EY assisted the company in raising the new funding to buy out the hotel group's existing lenders.
Commenting on the funding agreement Graham Reid, Transactions Partner at EY said, 'A critical factor in securing this funding agreement was the strength of Griffin Hotel Group's leadership, who, during the economic downturn in particular, worked tirelessly to ensure that the company maintained its focus on providing a premium experience for customers.
'This strategy not only positioned the group well to reap the benefits of rising consumer sentiment now that Ireland's economy has returned to growth, but also demonstrated to AIB the strength of the brand. This refinancing is a very positive development for Griffin Hotel Group and will support the company's future growth ambitions - affirming its position as one of Ireland's leading premier hospitality groups.'
'With this transaction, AIB is delighted to support the continued success of the group,' said Owen Travers, head of AIB Retail, Corporate and Business Banking.