THINGS WEAR OUT—That’s just the way it is. Whether it is the roof, the swimming pool or the golf course irrigation system, club assets have a limited life span. In today’s competitive environment, forward-thinking clubs Recognizing that every course is unique and that repair and
Private clubs must compete for their members’ time above all else. If a private club can offer its members an engaging experience for all ages that complements their busy lifestyle, the club will soon become a desired destination for all members of the family. While board members and club
THERE IS NO QUESTION, clubs continue to spend money on capital projects at record rates. Country clubs are spending almost 36 percent more than they were eight years ago, but that was also a result of clubs curbing spending after The Great Recession of 2008. Today,
OUR DATA REVEALS a “Tale of Three Cities” happening in the club industry, and we are deeply concerned about what appears to be a growing divergence. According to our research, one-third of clubs is prospering and growing, one-third is “going sideways” and one-third is falling further
A negative pledge is an arrangement made between the club (borrower) and the bank (lender) whereby the club will pledge not to encumber or sell the club or refinance the loan without the approval of the bank. It gives the bank more control over the
According to data from Club Benchmarking, the median Net Available Capital Ratio for clubs is 11 percent. However, just like any other data point, this statistic must have context before it can be put to work in the decision-making process. Like Plato said, “A good
In reviewing financing for proposed capital expenditure projects, clubs consider the following alternatives: Finance from operations. Those fortunate clubs that have funds available from operations for capital expenditure projects can use this most favorable option. Usually, this is not the case. Assess the membership. The
The Challenge: In a medium-sized market, Odessa sought to achieve sufficient scale to continue to offer a premium club experience and to keep pace with the market’s shifting needs and wants. Located in the oil-rich region of Texas known as the Permian Basin, Odessa Country
Who would have expected that a drone buzzing around the club could play a key role in earning membership’s support for a multimillion-dollar renovation project? This sci-fi fantasy turned into reality for our club, Glen Ridge Country Club in Glen Ridge, N.J., when it combined