Case Studies

Castleknock Golf Club

Overview

A US based Investment Management Company purchased Castleknock Golf Club out of Receivership in December 2014. Carr Golf was initially appointed by the Receiver to stabilise and then manage the business while it completed the sale process. During that time, Carr Golf completed a significant restructuring of the business to ensure it was able to continue trading and prepare the asset for sale. Once sold, Carr Golf was able to demonstrate to the new owners the value they could add to the business and the fact that we were a reliable solution to manage the asset and business into the future.

Solution

Since the appointment, Carr Golf devised and implemented an operations plan, which they continue to roll out, managing all aspects of the Golf Club including membership, golf operations, retail, course maintenance, estate management, sales and marketing and food and beverage. Carr Golf has complete responsibility for managing the profit and loss of the business, balance sheet, capital investment programme and meets with the Owner’s representatives monthly to review the business, performance and provide detailed analysis of the business.

Conclusion

The Golf Club and business has performed extremely well since transferring ownership and has rebounded strongly from the period preceding and during the Receivership. The expectation is for revenue and profitability to grow for the foreseeable future.
The membership of the Golf Club has increased by 5% year on year which has helped to increase revenue and provide a more stable platform for future growth. Year on year revenue at Castleknock Golf Club has increase by 14%. The net profit of the business has increased by 75% year on year.
Castleknock Golf Club is rather unique within the industry in that it has a successful food and beverage operation that is busy and profitable and contributes significantly to the overall performance of the business. The dedication of Carr Golf’s team of experts to the continued growth and success of the Golf Club will be a key ingredient of improved profitability over the foreseeable future.