Tommy Fleetwood hits to the par 3 8th hole pictured during the second round of the Dubai Duty Free Irish Open in Lahinch Golf Club, Clare in 2019. Photograph: Brian Arthur
This year has seen โa dramatic improvementโ in the finances of Lahinch Golf Club.
That is according to chairperson of Lahinch Golf Club, John Gleeson who, in his first report to golf club members, has stated that green fee income at Lahinch is expected to exceed the projected โฌ2.8m for 2022.
Currently in โhigh seasonโ it costs non-members โฌ250 in green fees for a round of golf for Lahinchโs main course.
The club successfully hosted the 2019 Dubai Duty Free Irish Open and Mr Gleeson said that โour finances are in a very healthy stateโ.
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 โmeant we exited the pandemic very wellโ.
Mr Gleeson said, โWe are committed to rebuilding the Clubโs 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.โ
Mr Gleeson has told members that at the end of June this year, the club had cash funds of โฌ3.8 million which includes โฌ1.2m in pre-payments.
He said that the club had received โฌ1.03m in annual subscriptions from members to the end of June which was in line with budget.
Mr Gleeson said that along with Green Fee income expected to exceed the budgeted target of โฌ2.8m, Golf Shop sales at the end of June were โฌ595,000 (ex VAT) โwhich is ahead of projectionsโ.
Mr Gleeson stated that the clubโs expenditure of โฌ1.3m for the first six months is in line with budget.
He added, โHowever, we anticipate further inflationary and substantial energy price increases for the second half of the year.โ
Lahinch hotelier, Michael Vaughan said on Tuesday 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.
Vaughanโs four-star hotel overlooks the golf course at Lahinch and he said, โI 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 Britainโ.
He said, โA feature of this summerโs 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 yearโ.
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: โGolf and Lahinch are synonymous. The core of business in Lahinch has been and will continue to be golfโ.