Camiral Resort Owner Swings to £826,000 Profit on Ryder Cup Boost

Murryhill Holdings, the Denis O'Brien-owned group behind Girona's five-star Camiral Resort, swung from a £2.56 million pre-tax loss in 2024 to an £826,000 (€988,000) pre-tax profit in 2025. That's a £3.38 million turnaround, and it landed in the same year the resort secured the 2031 Ryder Cup.

The numbers come from new consolidated accounts filed to Companies House. They show revenues jumping 49%, from £38.8 million to £57.86 million (€69.2 million). For sellers of travel and golf packages, the more striking figure sits underneath the headline: most of that growth came from construction, not hospitality.

Where the money actually came from

Construction revenues climbed 123%, from £13.9 million to £31.08 million — now more than half the group's total revenue. Service revenue, which covers the hotel and resort operations travel sellers actually touch, rose a far more modest 7%, from £24.9 million to £26.7 million.

In plain words: the return to profit is a property development story wearing a golf resort's clothes. The hospitality side grew steadily; the building sites drove the swing.

Murryhill's stated business covers the construction, promotion, marketing and operation of the residential and sports resort. Staff numbers increased from 389 to 414 — a 6% headcount rise that tracks with the expanded building activity.

What the 2031 Ryder Cup changes

The award of the 2031 Ryder Cup is the development with the longest commercial tail. Camiral will become only the second Spanish venue to host the event, 34 years after Seve Ballesteros captained Europe to victory at Valderrama in 1997.

The resort has the credentials to justify the pick. Camiral sits on a 540-hectare forested estate with two golf courses, and it has hosted three editions of the Open de España plus the DP World Tour's Catalunya Championship. The property includes the five-star Camiral hotel and the 50-bedroom purpose-built boutique Lavida hotel.

But sellers should read the timeline carefully. The Ryder Cup is six years out, and the accounts don't break out what, if any, Ryder Cup-related revenue or investment has already landed in 2025. The award is a future demand driver, not a current one.

What the filing doesn't say

The accounts don't disclose occupancy rates, average daily rates, or how the service revenue split breaks down between the two hotels. There's no commentary on the drivers behind the construction surge — whether it's resort expansion, residential sales, or infrastructure work ahead of the Ryder Cup.

A 7% service revenue gain at a resort with major tournament pedigree is solid but not spectacular, and the filing offers no explanation of the mix. The profit, meanwhile, remains thin against £57.86 million of revenue — roughly 1.4 pence of pre-tax profit per pound of sales.

Still, the direction is clear: a loss-making group returned to profit, revenues grew by nearly half, and a Ryder Cup assignment now underwrites six years of international exposure for the destination.

The question for the next filing cycle is whether hospitality revenue can start matching the construction line — or whether this remains a developer's balance sheet until the tee shots in 2031.