Income down £300k, while staffing and infrastructure costs increase
The Villa Gaiety complex made an operating loss of just over £1.5million in 2023.
During the year, the facility had a total income of £2.3m, down £300,000 compared to the year before, while staffing and infrastructure costs increased.
In 2022, the site reported a loss of just over £700,000, but was also awarded a contingency fund of almost £600,000 for the Royal Hall, without which the deficit would have been more than £1.3m.
Income from events held at the complex was down almost half a million pounds, while bars and hospitality saw their income grow by more than £100,000.
'Unpleasant conditions' expected around the coasts during red weather warning
Net-zero policy on the Tynwald agenda today with motion calling for a referendum
Storm Bram: Red weather warning to come into force later
Many homeowners under insured for re-building cost of property warns former underwriter
Chamber calls for 'fast, simple and meaningful support'