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Finance

Emirates Old Trafford hotel, conference facilities boost Lancashire Cricket revenues

Featured image credit: Lancashire Cricket

Featured image credit: Lancashire Cricket

Emirates Old Trafford’s on-site hotel, as well as the Manchester stadium’s conference and events centre, generated nearly a third of Lancashire Cricket’s record turnover of £36.5m (€42.4m/$45.9m) in 2023, according to the club’s latest figures.

The stadium’s Hilton Garden Inn hotel recorded sales of £6.5m, while its conference and events centre contributed £4.1m in revenue. 

The club’s total revenue figure marked a 25% year-on-year increase, while the resulting operating profit of £5.3m after exceptional items was also up from the £3.1m posted in 2022. Additionally, Lancashire posted a surplus before taxation of £1.3m for the year ending December 31, 2023.

Emirates Old Trafford hosted two major men’s internationals last year in the shape of a men’s Ashes Test against Australia and a T20 match against New Zealand. Both matches sold out in advance, while attendance for The Hundred continued to grow with 63,000 tickets issued across four matches.

The stadium also hosted two sold-out Arctic Monkeys concerts, which attracted an aggregate attendance of more than 100,000.

Lancashire Cricket’s borrowings currently stand at £32.2m, which includes £8.5m of additional funding required for the 2023 hotel extension. The 100-bed extension, unveiled in November, includes a new members’ restaurant, lower-tier stand and concourse.

Last year also saw Lancashire Cricket commence work at its second ground in Farington, which is being delivered in partnership with Lancashire County Council. The club hopes the venue will serve as a year-round facility and host a number of men’s and women’s competitive matches each season as an alternative to Emirates Old Trafford.

The new venue, which will provide a training base for Lancashire’s men’s and women’s teams, will open later next year. Professional cricket is expected to be played at the ground from 2026.

It was recently announced that Lancashire Cricket was successful in its tender process for a Tier One women’s domestic team, meaning that the club can now take full ownership of the Lancashire Thunder side that will compete in Tier One T20 and 50-over competitions from 2025.

This year, Emirates Old Trafford will host a Test match against Sri Lanka in August, followed by a T20 match against Australia in September. The venue will also host two Foo Fighters gigs and one Green Day concert in June.

Angela Lowes, chief financial officer at Lancashire Cricket, said: “It has been another incredibly busy 12 months for everyone involved with the club. It’s been a tremendous effort from our staff to deliver everything we have done this year and I’d like to place on record my thanks for all their hard work and dedication.

“We were thrilled to open the Hilton Garden Inn extension on time and on budget this year as this facility will underpin the club’s long-term financial position. I would also like to thank Metro Bank for their continued support this year, particularly regarding funding of the new development.

“Whilst the men’s Ashes Test was a success, we were heavily impacted by the weather for the last two days. The financial impact of the rain was disappointing given such a strong start and after all the hard work involved to stage the event. Securing a women’s team has also been an important step for the club and we look forward to growing and developing Lancashire Thunder, on and off the field, over the coming years. We will continue to reinvest surpluses that we make back into the cricket department.”

Emirates Old Trafford will host TheStadiumBusiness Summit from June 17-19. Click here for more information.