The phrase appears in both Irish and Scottish Gaelic.
In both, it means "
A Hundred Thousand Welcomes".
In Irish, it's spelled
Céad Míle Fáilte. In Gaelic (Scottish),
Ceud Mìle Fàilte.
That's fine for a sign in a pub or shop. But to be grammatically correct, if you're saying it to a person, it should be "A hundred thousand welcomes
to you" :
Céad míle fáilte romhat (Irish) or
Ceud mìle fàilte dhut (Scots Gaelic).
It's pronounced
kayd meeluh foll-tjuh roe-uht in Irish,
and
kee-ud meel-uh faahl-tjuh gooht in Gaelic.