Doonbeg owners committed to golf resort despite increased losses last year

The US owners of Doonbeg golf club remain committed to the Greg Norman-designed links in spite of losses at the resort increasing by 11% to €6.4 million last year.

Accounts just filed by Doonbeg Golf Club Ltd with the Companies Registration Office show losses last year increased from €5.8m to €6.4m.

The losses came in spite of revenues at the exclusive club increasing by 16% from €9m to €10.4m in the 12 months to the end of December last. The loss last year takes account of an impairment charge of €1.7m on property and a non-cash depreciation charge of €1.9m.