Flat profit at Gleneagles due to Ryder Cup preparations
Preparations for the Ryder Cup next year has resulted in Gleneagles recording a flat profit of £591,000 for the year to 30 June 2012.
Increased costs have included £405,000 being spent on the redesign of the 9th and 18th holes and improvements to drainage on the PGA Centenary Course.
Meanwhile, turnover for the 12 month period increased by 3% to £36.7m, largely attributable to improved revenues in the restaurants, bars and leisure facilities at the five-red-AA-star, 232 bedroom resort in Auchterarder. Room sales remained broadly level with the previous year, while overseas bookings rose by 4%.
Looking ahead, David Kemp, Gleneagles's financial director, said that the hotel is currently experiencing "a small upswing in business volumes", while continuing to invest in the business.
"Priorities for the current year include further investment in all of our golf courses and in infrastructure for the Ryder Cup; an exciting £4.5m refurbishment of our Club leisure pool facilities; and on-going rolling room refurbishments. "
The Ryder Cup will be hosted at Gleneagles in September 2014.
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