The Stockman's Hall of Fame at Longreach in central-west Queensland has apologised to tourists who may have visited over summer only to find the facility closed.
The board decided late last year to close for six weeks over Christmas because of a lack of tourists over summer and the need to save money.
The closure generated concern from some in the local tourism and business sectors.
Chief executive officer Ben Maguire says it usually loses $100,000 a month over summer and he would expect significant savings from the closure.
"Our energy bill is almost a quarter-of-a-million-dollars a year and is rising," he said.
"I do apologise to those people who made the trip but ultimately we had to make a hard call based on our financial position needing to be in a little better shape.
"I acknowledge we could always do better in communicating such a decision."
He says while it has yet to do the final analysis, it was the right business decision.
"Certainly we will be saving some tens of thousands of dollars by making the decision that we did and that money is really important to us, and it is tight.
"We will prove that the decision was a worthwhile decision."