Welsh Rugby Union (WRU) chairman Richard Collier-Keywood has raised concerns about the underperformance of the Scale roof walk and zip wire attraction at Principality Stadium. The attraction, which opened in April last year at a cost of approximately £5 million, is struggling to draw in the expected number of visitors. Collier-Keywood revealed in a recent interview that the WRU is considering the possibility of selling the attraction to the operating company due to its lacklustre performance. This decision comes as the Union aims to address the current challenges faced by the attraction.
Scale offers visitors the unique opportunity to walk around the 60-metre-high stadium roof, zip wire across its canopy, and abseil down to the ground. Despite offering these thrilling experiences, bookings for the attraction have not met initial projections. Operated by Wire & Sky, the same company behind similar attractions at Anfield and Tottenham Hotspur Stadium, Scale was anticipated to replicate the success seen at other stadium attractions. However, the reality has fallen short of expectations, prompting the WRU to reassess its partnership with Wire & Sky.
Collier-Keywood emphasised the Union’s commitment to working closely with Wire & Sky to address the challenges faced by Scale. He acknowledged that the attraction’s performance was far from what was hoped for, indicating a need for strategic improvements. With the summer season approaching, there is optimism that visitor numbers may increase. However, the possibility of selling the attraction to enhance its viability remains on the table, with Collier-Keywood expressing openness to exploring various options to improve the situation.
In contrast to the struggles faced by the Scale attraction, the WRU’s Parkgate Hotel has shown strong performance in its last audited accounts. With revenues increasing by around 10% to £12.35 million and an average occupancy rate of 85%, the hotel has been a more successful non-rugby venture for the Union. While the possibility of selling the hotel asset has been considered, Collier-Keywood highlighted the importance of maintaining a financially sound balance sheet. The Union is poised to assess the hotel’s future over the next six to 12 months to determine the best course of action.
The Parkgate Hotel’s positive cash flow presents an opportunity for the WRU to benefit from potential intercompany transactions, subject to approval from minority shareholder Rightacres. Collier-Keywood’s strategic approach to evaluating the hotel’s performance reflects the Union’s commitment to maximizing its assets. Any decision regarding the sale of the hotel would need to align with the Union’s long-term financial objectives, ensuring that the balance sheet works effectively to support its operations.
As the WRU navigates the challenges posed by the Scale attraction’s underperformance and evaluates the potential sale of the Parkgate Hotel, Collier-Keywood’s leadership underscores the Union’s commitment to financial sustainability and asset optimisation. By prioritising strategic partnerships and sound financial management, the WRU aims to enhance its operational effectiveness and secure sustainable growth opportunities for the future. With a focus on leveraging its assets to support its core rugby activities, the Union continues to adapt and evolve in response to changing market dynamics and business realities.