CEO warns insurance claims could close Tralee's Aqua Dome
The directors of Tralee Aqua Dome have warned that if insurance claims against the attraction grow, it could eventually lead to the closure of the facility.
The warning is contained in new accounts which show that the Aqua Dome company, Tralee Waterworld plc, recorded pre-tax profits of €73,511 in the 12 months to the end of April last.
Revenues at the attraction – owned by local shareholders - last year increased by 5% from €1.17m to €1.23m.
The directors’ report attached to the accounts states that “insurance claims against the company are an ongoing concern which, if they continue to grow, could eventually lead to the closure of the facility”.
CEO of the Aqua Dome, Kieran Routledge, said today that it is a continuing battle to keep the Aqua Dome open. He said that the Aqua Dome is loss-making eight months of the year and is only profitable during the Summer months.
The centre plays an important role in attracting domestic tourists to Co. Kerry.
Mr Routledge said that the Aqua Dome faces the significant problem of the high level of personal injury awards that are given for minor injuries.
He said that the cost of dealing with claims has prevented the Aqua Dome from developing further, stating: “We could be twice the size or we could drop the admission prices but for the insurance costs.”
He said that the Aqua Dome’s insurance premiums last year totalled €90,000 which is an increase on premiums of around €50,000 five years ago.
Mr Routledge added that the facility’s current annual excess on claims is €150,000.
The directors’ report warns that “successful claims up to the excess amount for a number of consecutive years would pose a significant risk to the business.”
Mr Routledge said that he currently has seven ‘live’ personal injury claims on his desk.
The waterpark employs 35 and staff costs last year totalled €540,133.
