Tizzard Holdings Unlimited Company, the business operating Irish entrepreneur JP McManus’s luxurious five-star Adare Manor Hotel resort in County Limerick, encountered financial loss during 2023, as per an auditor’s report submitted to the Companies Office. The Adare Manor’s exact financial performance isn’t public knowledge, as Tizzard Holdings UC’s unlimited status means there is no obligation to share annual accounts.
The comprehensive financial report audited by BDO attests to a fair and accurate representation of Tizzard Holdings UC’s financial standing as of 30th December 2023, including assets, liabilities, and that year’s loss. While the auditors’ reports between 2019 to 2022 do not specify whether the company made a profit or a loss, the reports from 2018 do confirm a loss during that year.
Despite the losses, BDO’s Liam Hession assures that the resort’s financial results are justified on a going concern basis. He further states no significant doubts about the company continuing as a operational entity for at least a year from the authorisation date of these financial statements exist.
Online booking at the hotel seems to indicate thriving business. The hotel’s lowest-priced rooms, charging €750 per night, have no availability throughout the weekend of November 29th, 30th, and December 1st. Over the same duration, Adare Manor suite guests can expect to spend anything from €6,625 to €7,425 each night.
JP McManus acquired Adare Manor back in 2014 for a reported €30 million, and has subsequently invested an estimated €50 million in restoring and renovating the property. The expansive 840-acre resort was chosen in 2019 to host the 2027 Ryder Cup, noteworthy mention for its prestigious golf course.