Festive ice rink ran at £74k loss – but skaters spent £1.6m in town

» THE Cheltenham ice rink ran at a loss of more than £74,000 for the borough council late last year.

The attraction was at Imperial Gardens from November 17 until New Year’s Day and welcomed 30,000 skaters.

However, while tickets cost £11.50 for adults and £9.50 for children, Cheltenham Borough Council’s spending on the ice rink exceeded income by £74,276.

Council leaders say the event was still beneficial as independent analysis found £1.6 million was spent in the town by all those visiting the ice rink.

Some £860,000 of this would not have occurred without its presence, they say.

Councillor Diggory Seacome (C, Lansdown) asked how much money the council made with the ice rink at a meeting on March 18.

Economic development, culture, tourism and well-being cabinet member Max Wilkinson (LD, Oakley) said the ice rink was clearly successful in influencing visits and bringing new money into the town centre during the Christmas period, an important time for businesses.

He said: “An independent analysis of the economic impact of the event showed the following: A total of £1.6m was spent in Cheltenham by all those visiting the ice rink, £860,000 of which would not have occurred without the presence of the ice rink.

“A total of £1.2m additional business turnover occurred in Cheltenham as a result of the presence of the ice rink (indirect and induced).

“This is new money that would not have occurred without the ice rink being in place.

“This additional money supports 13 full-time equivalent jobs or 17 estimated actual jobs in the town.

“Eighty-three per cent of all those who had visited Cheltenham ice rink said it had been the main reason for their visit to Cheltenham/coming into the town.

“In addition to this, the innovative approach to power supply developed by the event team and ice rink partners meant the event used only 12.7 per cent of the fuel and reduced carbon dioxide equivalent emissions by 98.7 per cent, when compared to the town’s 2021 ice rink.

“For a number of reasons, which will be set out in detail in a report to the April cabinet meeting, in 2023/24 expenditure exceeded income, requiring an investment by the council of £74,276.

“However, this does not take into account the wider economic benefits I’ve already mentioned, nor the impact on our own car park income.

“The economic impact analysis of the event shows a return on investment of approximately £11.50 per £1 invested by the council.”