Hotel deal turns Worcs loss into profit

By Paul Bolton, County News Correspondent

Worcestershire avoided a hefty loss last year thanks to the land lease they have done with hotel chain Premier Inn. The deal brought in a profit of £350,000 which helped Worcestershire turn a loss of £124,991 into a profit of £225,009.

It is the third year running that Worcestershire have been in the black despite income falling back to £2.6 million, the lowest level since the flood-hit summer of 2007.

Receipts from home matches in the wettest summer in a century – the Clydesdale Bank 40 game against Holland was switched to Kidderminster because of flooding at New Road – dropped to £207,000 although membership subscriptions brought in slightly more than 2011. Total costs costs rose by £60,334 with cricket costs showing an increase of £104,235 on 2011.

“At the club’s 2011 AGM it was noted that we had done a great deal to reduce risk, but clearly have not done enough to offset the extreme adverse weather in 2012,” said Worcestershire chief executive David Leatherdale.

“Met Office figures showed 2012 to be the second wettest summer since records began and resulted in the loss of more than 15 days home and away cricket, making 2012 a real challenge.

“However, we now have our Premier Inn hotel and new club facilities under construction which is anticipated to attract 35,000-40,000 hotel visitors a year and, combined with our own new conferencing, bars and executive facilities, will allow the club to extend existing revenue streams as well as develop new areas.

“This will create a truly 365 day-a-year business with a long-term viable and sustainable future ultimately allowing further investment both on and off the pitch.”


Date: 25/01/2013 19:01:00 by Paul Bolton
In: Worcestershire | Today |