Lancashire Cricket and Emirates Old Trafford recorded an operating profit of £3.1m in 2022 thanks to record hotel takings and the return of unrestricted crowds.
In a statement covering the year to December 31, 2022, the club said Emirates Old Trafford’s on-site Hilton Garden Inn hotel reported a record revenue of £5.4m during 2022, whilst the club’s conference and events revenue continued to return to normal levels of £3.4m as consumer confidence returned after the COVID-19 pandemic.
The venue also held four sold out concerts during 2022, one of which, The Killers, was rolled over from 2020. Emirates Old Trafford hosted two nights of Harry Styles and one night of the Red Hot Chili Peppers.
After the England versus India Test Match was cancelled in 2021, Emirates Old Trafford hosted two One Day Internationals against India and South Africa and a Test Match against South Africa in 2022. The club said attendances for domestic and international cricket were slightly impacted throughout the 2022 campaign, due to the construction works following the demolition of the Red Rose building and stand.
Angela Lowes, chief financial officer at Lancashire Cricket, said: “Following the incredibly difficult challenges that we faced in 2020 and 2021 due to the COVID-19 pandemic, it has been fantastic to experience a normal and successful year for the club.
“I would like to thank our primary lender, Metro Bank, for their support this year, which has been hugely appreciated, particularly regarding funding of the new development at Emirates Old Trafford.
“To welcome full crowds back for domestic and international cricket, as well as concerts, has played a key role in helping the club to return to pre-pandemic levels, whilst the on-site Hilton Garden Inn and the conference and events business continues to go from strength to strength.”
Lancs said 2023 is set to be another prosperous year for Emirates Old Trafford as it hosts the England versus Australia Ashes Test match in July. Rock band Arctic Monkeys have been confirmed to play at the venue in 2023 with two sell-out shows in June.
2023 will also see a new stand, concourse and restaurant area open for the Ashes in July, with a 100-room extension to the current Hilton Garden Inn to launch later in the year.
Lancashire announced a surplus of £1.81m for 2021, aided by the proceeds from a business interruption insurance claim that acted to offset losses incurred as a result of COVID-19.
Emirates Old Trafford will host TheStadiumBusiness Summit 2023 on June 28-29. Click here for more details.