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Enterprise

Close House Golf toasts rising revenues despite wet summer weather

Corporate and individual membership numbers are also on the move at the Northumberland resort

Golf fans watching the British Masters at Close House, Northumberland, Rory McIlroy

Close House Golf has toasted rising revenues on the back of increasing membership, despite suffering through a wet summer last year.

The leading North East golf club, based at Heddon-on-the-Wall in Northumberland, has published accounts for the year ended September 30 2023, showing a rise in turnover from £5.05m to £5.127m, buoyed by the rising membership numbers as well as price increases and the removal of covid discounts for membership. Operating profit dropped for a second year, however, from £573,164 to £475,384, and the overall profit for the year also dipped from £794,437 to £443,171. Total equity increased from £1.77m to £2.22m

Overheads rose during the year from £3.126m to £3.3m, which it said was due to increased activity across many areas of the business, rising costs such as utilities and the significant minimum wage increase. Employee numbers also rose, from 110 to 114, taking the wages bill from £1.8m to £2.03m.

In a review of the financial year of the club, owner Sir Graham Wylie said: “During the past year Close House Golf Club Limited (Close House) has continued to produce positive results during the financial year. We were delighted to host another major golf event welcoming the Asian Tour, International Series England tournament to help the continued growth of our brand.

“Membership revenue increased by 16% with continued growth in corporate and individual membership categories. Confidence returned to the corporate sector, and we hosted more golf days throughout the year resulting in a rise in No.19 revenue.

“Despite a very wet summer in 2023 the directors were pleased with another strong summer for the business. Previous investment in the drainage enabled the golf courses to remain accessible to members and guests. We are committed to continued investment in the estate.

"Membership renewal for the 2023/24 season has been very positive which will continue to offer opportunities for continued growth. We are proud to have maintained the staff levels across the site. The quality of the staff and the customer feedback are essential to the long-term success of the business. We have continued to invest in the facilities as we look to secure our place as the leading golf destination in the region."

The accounts mention risks to the business, including increasing costs from the current rises in energy, purchases, ingredients and fertilisers for the estate. The directors said they intend to continue to invest in the business to enable further development and growth of the company.