Record green fees tee-up operating surplus at Lahinch Golf Club
Record green fee income of €3.3 million at Lahinch Golf Club last year helped the club post an operating surplus of €1.725 million.
This year, the Lahinch has increased green fees to €375 for non-members to play a round of golf at its 'iconic' Old Course.
In his report to members, outgoing chairman John Gleeson said that on foot of the 2025 green fee increase 'we expect our revenue from green fee activity to exceed 2024 levels'.
The 2023 US Masters champion and LIV tour member, Jon Rahm won the Dubai Duty Free Irish Open staged at Co Clare club in 2019 which raised the course's international profile.
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American golfers usually make up a sizeable chunk of the green fee income and the annual report shows that arising from green fees increasing to €375 from April 22nd to October 10th Lahinch Golf Club is projecting that its green fee income will increase to €3.8 million in 2025.
Mr Gleeson said that while members' annual subscription income increased to €1.23 million in 2024 'we continue to rely very heavily on revenue generated from green fee visitors'.
Last year, the golf club's Golf Shop alone generated €1.38 million in sales of Lahinch GC branded clothing and accessories and other items, contributing a gross profit of €611,318 to the club's finances.
In his report attached to the club's 2024 annual report, Mr Gleeson stated that 'it was another successful financial year for the club'.
He said that the operating surplus of €1.72 million 'has allowed us to rebuild our finances with our contingency fund of €2 million in place, while providing additional funding for our clubhouse project'.
Construction work continues on the upgrade of its 'no longer fit for purpose' clubhouse, which is now almost 60 years old and Mr Gleeson said that 'the tender price was €6.6 million which is a major undertaking for the Club'.
'We look forward to having the 'new clubhouse' completed ahead of the Walker Cup in 2026,' he added.
Mr Gleeson said that the €2 million contingency fund is in place 'to deal with any significant downturn which would put pressure on our finances'.
'Golfing activity was at record levels by both members and guests and in particular the Castle Course has seen a large increase in usage by members,' he said.
The club's finances were also boosted by new members spending €245,000 on 'Overseas Life Memberships'.
Overall staff costs last year increased from €1.88 million to €2.08 million.
At the end of December, the golf club's equity had increased to €10.7 million made up of €8.76 million in accumulated funds and €2 million in a contingency fund.
The golf club's cash funds increased from €3.57 million to €3.78 million.
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