GENEVA-ON-THE-LAKE — A remarkable summer and fall comeback from months of inactivity will allow the Lodge at Geneva-on-the-Lake to end the year without taking a loss, said Ashtabula County Commissioner Casey Kozolowski.
“Fortunately we are probably going to finish 2020 in the black which is a miracle,” Kozlowski said. The lodge is owned by Ashtabula County and operated by Delaware North, a Buffalo, N.Y.-based management company.
Kozlowski said revenues through November indicate the lodge has a net profit of $250,000 for the year, but December revenues will likely be lower than last year leading to a probable $50,000 profit for the year.
He said it was amazing after months of inactivity at the lodge, due to the pandemic, that it was able to rebound so well. He said the county will be able to pay its $1.3 million payment.
Another advantage that helped this year was the ability to refinance with extremely low interest rates.
“We did refinance much of our debt including our lodge debt,” Kozlowski said.
Kozlowski said the former debt plan indicated it would take about seven years to pay off, but after the refinancing was completed, figures are still being tallied to see how the new numbers will affect the longevity of the loan.
“The obligation is pretty close to what it was before, but we have saved a lot of interest,” Kozlowski said.
He said several general improvement projects are planned for 2021 including the pool deck and improvement of outdoor public restrooms.
Kozlowski said profits were $560,000 last year so it was quite a hit to the normal operation, but not nearly as bad as it could have been.
The inability to have any operation of the Lake Erie Canopy Tours deeply affected revenues, Kozlowski said.
“Hopefully in the new year we will have our zip lines and canopy tours operating,” he said.
Investments in 25 cottages have paid off extremely well, Kozlowski said. He said the revenues at the cottages were high this summer as guests were able to keep separate from other people, but still enjoy family time.
“Occupancy was up,” Kozlowski said.