CASE STUDY: ST ANDREWS
How the Home of Golf recovered from the pandemic
Lockdown hit St Andrews hard. But new figures have revealed an incredible revival. What happened and how?
“The demand, not just on our golf courses but across all facilities, has been incredible”
– Neil Coulson, chief executive of St Andrews Links Trust
FEW operations were impacted by Covid more than the Home of Golf. The hallowed links of the Old Course, and the six other courses managed by St Andrews Links Trust, normally throng with the buzz of visitors all year round.
But lockdowns, and even longer restrictions on international travel, left previously unheard-of gaps in tee sheets. Operators struggled to survive.
All this hit the Trust very hard. In 2020 and 2021, losses totalled £11.1 million. And while a strong recovery came in 2022 following the re-opening of travel, last year saw a record-breaking year.
There was unprecedented demand for a start, with 282,082 rounds played at the historic venue, and course occupancy across the seven layouts hitting a record high of 78%.
It’s hard to even fathom the 7.6 million balls that were hit at the St Andrews Links Golf Academy – two million more than have been struck before – while both retail and F&B operations reported 20% and 29% increases in customer numbers year-on-year.
Key Figures
£44m
2023 operating revenues
£11.5m
Operating profit
7.6m
Balls hit at the St Andrews Links Golf Academy
Bigger visitor number is, of course, key to building revenue and an increase in green fee prices – from £195 in 2021 to £320 this year – will also have assisted in restoring the financial reserves of the Trust.
2023 saw an impressive £44 million in operating revenue and an £11.5 million operating profit for the Trust, which built on the figures of £34 million and £3.7 million in 2022.
Unveiling the figures, a Trust statement said, as a charitable trust, “all profits are reinvested into the operation, maintenance and preservation of the links at St Andrews and the Trust has also announced an ambitious investment strategy to upgrade ageing infrastructure”.
Projects include a multi-year upgrade of irrigation systems across every course and extensions and upgrades to the Links Clubhouse and the Golf Academy, as well a plan to open the Castle Course all year round.
They will also focus on investing and seeking funding for sustainability and coastal management measures to protect the coastline from erosion and climate-induced flood risks.
Key Figures
20%
Increase in customer numbers in retail
29%
Rise in food and beverage customer numbers
78%
Occupancy across the seven Links Trust courses
Neil Coulson, St Andrews Links Trust chief executive, said: “These unprecedented results for 2023 underline the regard in which the Home of Golf is held both here in St Andrews and around the world.
“The demand, not just on our golf courses but across all facilities, has been incredible and has significantly accelerated our recovery from a difficult period in 2020 and 2021.
“The recovery of our balance sheet and reserves allows us to revisit a strategy to invest in our physical and digital infrastructure to further enhance the experience of golfers in St Andrews and to continue to protect the links for future generations.”
Get golf business insights straight to your inbox
Sign up for the first look at the latest news, features, exclusive interviews and podcast episodes with our monthly newsletter