Limerick's International Rugby Experience set for six figure loss
Attendance two-thirds down on early projections
LIMERICK’S International Rugby Experience is expected to record an annual operating loss of almost €700,000 by the end of 2024, it has been revealed.
Just 31,102 people were projected to attend the €30m facility this year, more than two-thirds fewer than the 100,000 visitors which were predicted per annum pre opening.
A presentation given to council members at an emergency meeting revealed the financial state of affairs the visitor attraction finds itself in.
It comes following the news the multi-million facility is to close by Christmas with the loss of 18 jobs.
Council appointed Shannon International Development Consultants to prepare a report on the future of the facility after JP McManus gifted the facility to the local authority.
As part of this, a detailed table was prepared ultimately revealing the Experience would lose €680,656 before interest, taxes, depreciation and amortisation are taken into account.
Visitor numbers up to the end of May 2024 were under 12,000.
As part of his presentation to council members this Tuesday, Paul Ryan, of Shannon International Development Consultants confirmed visitor numbers had declined from the site’s opening in 2023 to 2024.
Its retail outlet has performed well and continues to be strong, he added.
However, the cafe in the building is not performing well, and the operator is leaving before the end of this year, he added.
A presentation this Tuesday heard that three options are proposed for the future of the International Rugby Experience.
Option one is that the International Rugby Experience transfers into a special designated activity company of the council with money from government, and continues to operate up to 2027.
Option two is that it transfers into a council-owned company and is "reimagined" after the first year as a different attraction.
The final option is it transfers into this council owned company and is "reimagined" after five years as a different attraction.