The Lahinch Golf Club, located in Co Clare, is planning a major €6.1 million upgrade of its clubhouse, bankrolled by substantial income from its green fees since the pandemic began. The redevelopment of the base is set to begin next month, as confirmed by John Gleeson, the Chairperson, and the recently awarded main builder. Gleeson alerted members to the significant cost of the project, explaining that the total amount was more than initially projected, but assuring that all associated expenses were included in the €6.1 million figure.
The golf club’s council expressed confidence that their existing financial resources, along with the €3 million loan approved at the recent annual general meeting, would be sufficient to finance the entire project. It was last December when Mr Gleeson had first shared with the members that the expected expenditure on the project might exceed €4 million.
He pointed out that the current clubhouse, which dates back to 1965, was now outdated and many of its features were close to obsolescence. The original idea of demolishing the current structure to erect a new one was dismissed due to the projected cost of €9 million and there was also a fair chance that the club might not be allowed to rebuild at the same site.
Mr Gleeson emphasised the importance of revamping the clubhouse to match the expectations befitting a world-class top 50 golf course status, which several of their competitor clubs have already achieved in recent years. The club – highly popular with visitors – charges a green fee of €325 from late April to mid-October. The revenue for 2024 from these sources is expected to touch €3.2 million.
Mr Gleeson has assured that the financial status of our club is secure, with over €4 million in savings and bonds, even after fully funding our new irrigation system worth more than €2 million. He confirmed that as of the end of June, the cash reserve stands at €4.28 million, of which €1.4 million constitutes advance payments. He also highlighted that our golf shop’s June-end sales reached €682,000, surpassing expectations. Mr Gleeson reassured that the club council plans to maintain a meticulous and frugal approach towards managing the club’s finances.