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Bunratty Castle

Shannon Heritage posts loss of €3 million

SHANNON Heritage made a loss of over €3 million in 2020, according to a newly filed financial statement.
The business review section of the document noted that effect of the Covid-19 pandemic in 2020 and its impact on tourism.
It stated that the pandemic led to the closure of “significant elements of the company’s business at various times in 2020” and has had a significant and ongoing negative impact on inbound international tourism.
The review stated, “In March, following the imposition of Government restrictions, all sites were closed and since then business operations and the opening of the company’s attractions continues to be dictated by the prevailing Government advice.
“All banqueting activity ceased in March and has not recommenced since then and the timing of the return of banqueting activities remains uncertain.
“Two of our seasonal day visitor sites, Dunguaire and Craggaunowen did not open in 2020.”
It noted that since March, the company has had substantial staff numbers on temporary lay off and reduced working hours with only a small team remaining during closures to ensure sites were maintained.
“Shannon Heritage recorded total visitors at all company operated attractions in 2020 of 302,062, a decrease of 68.6%, when compared to 963,239 in 2019,” the report outlined.
“Total day visitors declined by 65.6%. Night entertainment attendances, however, declined by 97.6% as a result of this activity ceasing on March 13, 2020.
“Overall, decreased admissions, retail and food & beverage revenue led to turnover decreasing by 81% to €3.7 million from €19.7 million in 2019.
“On average the company employed 91 full time equivalents in 2020, less than half the 2019 figure of 209.”
In the coming months Shannon Heritage is set to divest ownership of its local sites to Clare County Council.

About Owen Ryan

Owen Ryan has been a journalist with the Clare Champion since 2007, having previously worked for a number of other regional titles in Limerick, Galway and Cork.
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