For many courses in Scotland, the pandemic was costly as American golfers were no longer making the trip across the pond.
Losses mounted for the most popular courses in Scotland, including the Old Course, managed by the Links Trust.
Known as the Home of Golf, St. Andrews was not as vibrant as usual for the better parts of 2020 and 2021 – that all changed in 2023.
In its 36-page Annual Report and Accounts for 2023, the Links Trust reported that the seven courses under their control saw unprecedented play with 283,082 rounds.
That was an 11% increase over 2019, the previous record year. Course occupancy numbers reached a record 78%.
With the growth of golf from the pandemic cited as a main contributor to the increased numbers, the Trust generated a record £44m in operating revenue and an £11.5m operating profit, building on revenue of £34m and a profit of £3.7m in 2022.
The performance from 2023 restored the financial reserves of the Trust following two years of significant losses 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,” said Neil Coulson, Chief Executive of St. Andrews Links Trust.
A copy of the 2023 Annual Report & Accounts for St. Andrews Links Trust can be found here.