The end of Covid helped Lahinch Golf Club experience a ‘dramatic’ turnaround

This year saw “a dramatic improvement” in the finances of Lahinch Golf Club.

This is according to John Gleeson, Chairman of Lahinch Golf Club, who stated in his first report to the golf club’s members that green fee revenue at Lahinch is expected to exceed the €2.8 million forecast for 2022.

Currently in high season, a round of golf on Lahinch’s main course is €250 green fee for non-members.

The club successfully hosted the 2019 Dubai Duty Free Irish Open and Mr Gleeson said “our finances are in a very healthy state”.

Mr Gleeson told members that the past two years have been very challenging, but exceptional management by the club council and club management in controlling costs, together with tight cash management “means we have weathered the pandemic very well”.

“We are committed to rebuilding the club’s finances and our contingency fund to ensure we can weather future shocks and also to fund our investment program including the much needed but expensive irrigation system,” Mr Gleeson said:

Members were told that at the end of June this year the club had €3.8m in cash, including €1.2m in upfront payments.

He said the club had received €1.03 million in annual dues from members by the end of June, which is in line with their budget.

Mr Gleeson said that combined with green fee revenue, which is expected to exceed the budgeted target of €2.8m, golf shop sales were €595,000 excluding VAT at the end of June, “which is ahead of forecasts”.

Mr Gleeson said the club’s spending of €1.3m for the first six months is on budget.

“However, we expect further inflationary and significant increases in energy prices for the second half of the year,” he added.

Lahinch hotelier Michael Vaughan said it looks like every available green fee slot at Lahinch has been awarded this year after nearly three years of golf bookings piling up.

The four star Vaughan’s Hotel overlooks Lahinch Golf Course and Mr Vaughan said: “I have never had so many compliments on the golf course as this summer. People walk out of the golf course thinking they’ve had a world-class experience. Lahinch Golf Club is firmly established in the higher echelons of golf here and in the UK.”

Mr Vaughan said 65 per cent of his business is related to golf and accounts for at least 40 per cent of Lahinch’s tourism economy.

“Golf and Lahinch are synonymous. The core of the business at Lahinch has always been golf,” he said.

https://www.independent.ie/business/end-of-covid-helped-dramatic-turnaround-at-lahinch-golf-club-41932785.html The end of Covid helped Lahinch Golf Club experience a ‘dramatic’ turnaround

Fry Electronics Team

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