Lough Erne Resort Loses Irish Open

Lough Erne Resort

The European Tour has announced that the Lough Erne Resort will not host the 2017 Irish Open.

There were doubts in January that the Fermanagh course may not stage the event and this was confirmed on Monday.

The Lough Erne Resort said it was extremely disappointed, adding that the European Tour had decided to "change the venue to a links course".

Tour officials have already visited Portstewart to check its suitability to stage the Irish Open.

In April 2014, it was announced that the 2017 event would be held at Lough Erne and supported financially by the Northern Ireland government.

"During a recent visit to the Lough Erne Resort, I was delighted to meet with the owners and to learn more about their significant investment plans for the golf course and hotel," said Keith Pelley, European Tour Chief Executive, on Monday.

"It is a beautiful facility with an outstanding championship golf course designed by Sir Nick Faldo.

"While the 2017 Irish Open will not be staged at Lough Erne, the European Tour looks forward to working with the new ownership consortium, and I am confident that the Lough Erne Resort will host an event with the European Tour in the future."

The Lough Erne Resort failed to persuade the European Tour to keep the event at the Fermanagh venue.

It added: "Over the last several months, senior tour officials began telling us that European Tour management was considering a 'traditional links course strategy' for future Irish Opens.

"We have remained steadfast in our position not to accept this change from the Tour, and we have spent the last few months trying to work with Tour officials at the highest level to persuade them to keep their commitment to Lough Erne Resort and the region.

"However, despite our willingness to work with the Tour in every way to convince them to maintain their commitment, they have made the decision to change the venue to a traditional links course in 2017."

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Hills Recognised for Ireland Contribution

The contribution of European Ryder Cup Director Richard Hills to golf in Ireland over the years has been recognised by the Ireland Golf Tour Operator Association at their annual awards dinner at the Lough Erne Resort in County Fermanagh.

Hills was presented with the Jerry Donworth Outstanding Contribution to Golf Award by Arlene Foster, Northern Ireland Minister for Enterprise Trade and Investment, Gerry O’Keeffe, Director of Special Markets for Waterford Crystal and IGTOA member Kyra Donworth.

Minister Foster said: "These awards celebrate the great achievements of those who play a pivotal role in golf. I want to congratulate Richard Hills, and all of the other award winners on their prestigious achievements.”

Leo Varadkar, the Irish Government’s Minister for Transport, Tourism & Sport, added: “I’d like to congratulate Richard on receiving this award from the Irish Golf Tour Operators Association. Richard was a key figure in hosting The 2006 Ryder Cup in Ireland, and this award is richly deserved given his contribution to the on-going success of golf in Ireland, both as a sport and as a tourism sector.”

European Tour Chief Executive George O’Grady – who attended the evening and also presented the IGTOA Award for Links Golf Course of the Year to representatives of Royal Portrush Golf Club, the host of this year’s Irish Open – said: “This is a fully deserved honour for Richard.

“It is testament to his hard work over the years and the wonderful relationship he has built up with all of Ireland which, of course, culminated in 2006 with Europe’s memorable Ryder Cup triumph at The K Club. All of us at The European Tour congratulate Richard on this award and share the pride and pleasure I know he feels in receiving it.”

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Lough Erne in Ten Million Challenge

Lough Erne Hotel and Golf Resort which went into administration last year is now on sale for £10m, around one third of the price it cost to build.

Dubai-based hotel group Jumeirah, sponsor of Lough Erne Resort's former touring professional, golfer Rory McIlory, has been suggested as a possible interested party.

The 120-bedroomed hotel has two championship golf courses, including one designed by golf star Sir Nick Faldo.

The resort cost a reported £35m to build between 2005 and 2009, including the golf courses and 25 golf lodges.

There are also 25 unfinished holiday homes with planning permission to build 18 more.

Commercial property agents CBRE said they had been instructed to sell the resort as a going concern by the administrators of the resort's founding company Castle Hume Leisure, which was headed up by Jim Treacy.

Brian Lavery, head of CBRE's Belfast office, said: "There is an extensive list of interested parties and we will now be returning to them with full details."

He said Lough Erne was the "most exciting and most high-profile" hotel to come onto the market in Northern Ireland.

The administrators have had to resolve a web of issues over title to the golf course, which have drawn in owners of adjoining land.

It's understood there were also discussions with the Rivers Agency, as some tees extend onto the lough.

Michael Williamson, hotels consultant at accountants ASM, said it was difficult to say if £10m represented a good price: "It depends on the cash generation potential of the resort.

"In some sense there is little point comparing costs on four-to-five years ago as the market has changed so much.

"It will represent good value if a buyer can generate a level of profit that justifies the price."

Chartered accountant Ken Kinsella, who works for private equity firm Gaia Equity in London and lives in Co Fermanagh, said: "I would like to see it stabilised because Jim Treacy had done so much work and had put an incredible team in place."

Bank of Scotland (Ireland) appointed KPMG as administrators to Castle Hume Leisure in May last year over debts of £26.4m.

In the meantime, it has been run by operators TifCo.

Former owner Jim Treacy acquired Castle Hume Golf Course in 1999 and started work on the resort in 2005. The hotel opened in 2007 and the rest of the resort opened in late 2009.

It also has conference and banqueting rooms for 400 people, five bar rooms or restaurants and a Thai Spa.

Source: Belfast Telegraph

Business as Usual at Lough Erne Resort

Lough Erne Resort

Jonathan Stapleton General Manager at Lough Erne Resort has said:

"Effectively Castle Hume Leisure Limited who owns Lough Erne Resort that has gone into administration, not Lough Erne Resort itself."

Lough Erne Resort has been trading prosperously for the last year and will continue to do so, therefore it is business as usual for The Resort, it's dedicated staff and valued guests, which means that our customers can be assured of our continued commitment to delivering the very highest standards of service and attention to detail at all times, for which Lough Erne Resort has become renowned both domestically and internationally."

"I just want to assure everyone that it is business as usual at Lough Erne Resort and that we are all committed more than ever to delivering excellence for which we are renowned."

On Thursday John Hansen and Stuart Irwin of KPMG, where appointed joint administrators of Castle Hume Leisure Limited. 

He said: "It is our intention to continue trading and keep this outstanding resort open for 'business as usual' including weddings and all other bookings. The joint administrators will seek to find a new owner. However, in the meantime it is our intention to keep the business open and indeed drive the business forward at every opportunity."

"On the issue of jobs at the resort, he said: "It is early in the Administration process, but our intention at present is to keep the workforce intact. We will keep all matters under review in the coming days and weeks."

The administrators have appointed an experienced hotel operator to assist them in the ongoing management of the resort. Mr Hansen said this could enable it to continue trading, meet current bookings and reservations and to secure future bookings.

"Given the great location and our stated intentions we hope that people will continue to book and our immediate objective is to secure operations, honour bookings and work with the existing staff. We will look at selling the resort in due course," he concluded.