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CIB: The Post-COVID-19 Consumer Spending Spree Has Begun

Industry Update

The Post-COVID-19 Consumer Spending Spree Has Begun

Wealthy Americans are ready to spend and may propel the economic recovery after more than a year of pent-up spending. Economists and business executives say businesses across the economy will continue to cater to the upper class. The fastest-growing spending categories include live entertainment (up 60%), amusement parks and related recreation (up 54%), membership clubs (up 45%) and hotels (up 33%), according to Bureau of Economic Analysis. The Washington Post.

Interlachen CC Proposes New Plans

Interlachen Country Club is proposing plans for a new parking lot, expanded practice range and new putting green within the city of Edina, Minn. The plans also include the installation of a cul-de-sac and security gate near the entrance/exit of the club, citing rising crime in the area. The final vote may take place in August. Biz Journals.

Boston’s Back Bay Club Seeks to Increase Licensed Capacity

As the $25 million renovation project at the Algonquin Club nears completion, the club seeks to double its license capacity to increase membership. The renovation project includes a new gym, restaurants and bars and private guest quarters and expands the building capacity with the completed restoration of formerly unusable space. Universal Hub.

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Trends Watch

The Tight Labor Market, Workers Gain Leverage and Companies Struggle

Low-wage workers are seeing incentives often reserved for white-collar employees like bonuses, bigger raises and competing offers as job openings for minimally educated industries balloons. Along with increased incentives, pay for those with only a high school education is rising faster than that of college graduates. WSJ and WSJ.

The Rise of ‘Third Workplaces’

Teleworking spaces are on the rise as workers avoid working from home and working from the office. Workers are seeking out hotels, cafes or coworking spaces as remote work stays and the world reopens. This trend is creating opportunities for restaurants who are offering work-from-home reservations during the day when the restaurant is usually closed or slow. Axios.

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On the Green

Deacon Palmer’s Golf Legacy

Deacon Palmer’s legacy is that of a golf course groundskeeper and a caretaker’s heart. Palmer helped build the course that his son, Arnold Palmer, would learn to play golf. Starting his career at Latrobe Country Club, a club his son Arnold would later purchase, Deacon was asked to stay on and help with maintenance after the course was finished in 1921. Deacon’s legacy on the golf game includes his son, tools for golf course management and the PGA of America Deacon Palmer Award for outstanding integrity, character and leadership. Kingdom.

Arizona Golf Courses Fights State on Water Reduction Plan

Several golf courses united under Arizona Alliance for Golf are fighting a water reduction plan put forth by the Arizona Department of Water Resources. The plan would require Phoenix-area golf courses to reduce their groundwater usage by 3.1%. Those opposing the plan contend the golf industry has done more than most industries to reduce groundwater usage. ABC 15.

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Diversity & Inclusion

BoardSource Publishes Leading With Intent, NonProfit Board Practices

BoardSource’s new Leading With Intent study presents trends across a wide range of board practices and functions. As a supplement to the main study, they have also launched a companion report that provides a “deep dive” into the current state of diversity, equity and inclusion (DEI) on nonprofit boards. BoardSource.

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Operations and Membership

NCA Board Member Tom Lenz Joins CCN to Talk Mandatory Vaccines

Partner at Atkinson, Andelson, Loya, Ruud & Romo and NCA board member, Tom Lenz, JD., joins CNN to discuss whether employers can require vaccinations among employees. Lenz says an employer can require employees to get immunized while there are some religious and medical exceptions. Employers also have the right to request verification of vaccinations from employees. LinkedIn.

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