The company that operates JP McManus’s five star Adare Manor Hotel resort in Co Limerick was loss-making again in 2025, according to an auditor’s report lodged on behalf of its operator, Tizzard Holdings Unlimited.

The detailed financial performance of Adare Manor is beyond public scrutiny as Tizzard Holdings UC has unlimited status and is not required to file annual accounts with Companies Office.

However, in the four-page auditor’s report, BDO states that it has audited the statements of Tizzard Holdings UC, concluding that they “give a true and fair view of the assets, liabilities and financial position of the company as at 30 December 2025 and of its loss for the year”.

The auditor made similar statements in each of the previous two years.

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McManus purchased Adare Manor for a reported €30 million in 2014 and has spent an estimated €50 million in restoring and renovating the property.

The resort is hosting the 2027 Ryder Cup in an event that is expected to provide a big dividend for the Irish economy.