US backers ‘committed’ to Doonbeg despite losses

THE US-backers of Doonbeg golf course said they remain committed to the project as figures show the resort recorded pre-tax losses of €5.8 million last year.

Accounts just filed by Doonbeg Investment Holding Company show that losses at the Co Clare resort last year fell from €7.7m to €5.8m after revenues increased 15% from €7.84m to €9m in the 12 months to the end of December last.

According to Townsend Clarkson of US parent, Kiawah Development Partners: “Kiawah is as committed as it ever was. We fully appreciate the difficult economic climate in which Doonbeg operates and we have been very pleased with progress made in recent years. For the last couple of years, we have been conscious that it is going to take a little longer for the Doonbeg project to become profitable.”