The Clare Champion Clare news, sport, entertainment and local notes
This year has seen “a dramatic improvement” in the finances of Lahinch Golf Club, according to club chairperson John Gleeson.
in his first report to golf club members, Mr Gleeson stated that green fee income at Lahinch is expected to exceed the projected €2.8m for 2022.
Currently in ‘high season’ it costs non-members €250 in green fees for a round of golf for Lahinch’s main course.
The club successfully hosted the 2019 Dubai Duty Free Irish Open and Mr Gleeson said that “our finances are in a very healthy state”.
Mr Gleeson told members that the last two years have been very challenging but exceptional management by the Club Council and Club management in controlling costs together with tight cash management “meant we exited the pandemic very well”.
He said, “We are committed to rebuilding the Club’s finances and our Contingency Fund to ensure we can sustain any future shocks and to also fund our capital expenditure programme including the very necessary but expensive irrigation system.”
Mr Gleeson has told members that at the end of June this year, the club had cash funds of €3.8 million which includes €1.2m in pre-payments.
He said that the club had received €1.03m in annual subscriptions from members to the end of June which was in line with budget.
Along with Green Fee income expected to exceed the budgeted target of €2.8m, Golf Shop sales at the end of June were €595,000 (ex VAT) “which is ahead of projections”.
The chairman stated that the club’s expenditure of €1.3m for the first six months is in line with budget.
He added, “However, we anticipate further inflationary and substantial energy price increases for the second half of the year.”
Lahinch hotelier, Michael Vaughan said that it looks like every available green fee slot has been taken up this year at Lahinch after a build up of almost three years of golf bookings.
The four star Vaughan’s hotel overlooks the golf course at Lahinch and Mr Vaughan said, “I have never heard as many compliments about the golf course as this summer. People are coming off the golf course believing that they have had a world class experience. Lahinch Golf Club is firmly in the higher echelons of golf here and in Britain.”
He said, “A feature of this summer’s business has been a large amount of very late dinner appointments at the hotel here because the golfers are out on the golf course late into the evening trying to play as much as they can. I doubt if Lahinch has ever seen as many visitors playing golf as this year.”
Mr Vaughan said that 65 per cent of his business is golf related and represents at least 40 per cent of the Lahinch tourist economy.
He said, “Golf and Lahinch are synonymous. The core of business in Lahinch has been and will continue to be golf.”
