Country Club Membership Discussion
Explore membership categories, pricing, challenges, and opportunities at a prestigious country club with various amenities. Delve into the distinctions between family and single memberships, along with operational challenges and potential revenue increases.
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Presentation Transcript
University Park Country Club Membership Discussion February 2, 2021
Current Membership Categories Full - Unlimited access to all club facilities Junior Executive Unlimited access age restriction Tennis Unlimited tennis, fitness, croquet, social activities, discounted golf rounds 6 times Sports Fitness, social, croquet, discounted golf 6 times Twilight Tennis Unlimited use of tennis courts after 12 noon, Social activities, fitness classes, croquet, NO use of the Fitness Centre No golf discount Social Resident Social All social activities, croquet
Current Pricing Initiation Fees Dues Family Single Full $5,000 $8,554 $6,710 Junior Executive $2,500 $4,278 $3,355 Tennis $1,375 $3,510 $2,629 Sports $1,250 $2,023 $1,392 Twilight Tennis $ 750 $1,368 $ 976 Social / Resident $ 500 $ 883 536
Our The Meadows Palm Aire Competition Lakewood Ranch Laurel Oak Rosedale Sara Bay Bundled Communities with golf Amenity Rich Communities without golf courses
Membership Opportunities & Operational Challenges Family versus Single Memberships Summer Memberships Changing/Eliminating Current Categories Food and Beverage Minimums Initiation Fees and Dues Pricing Capital Project Funding
Challenges Family vs. Single Memberships Monitoring use & equity Loss of dues & initiation fee revenue Access to new amenities and facilities after renovations
Family vs. Single Memberships Opportunities Additional revenue Paradigm shift to owners versus customer More clearly defined access, less monitoring
Family vs. Single Memberships Social Single Members TRULY SINGLE HAVE A SPOUSE TOTAL Social Single Members 182 268 450 Family Dues Rate Single Dues Rate $ $ $ 883 536 347 $ $ $ 883 536 347 $ $ $ 883 536 347 Increase Potential Dues Increase 63,154 $ 92,996 $ 156,150 $
Challenges Summer Memberships Not well received by existing Full members Pricing Competition for tee times and social amenities Accounting and processing time consuming Dress code and etiquette
Opportunities Summer Memberships Drives revenue during slow periods Additional revenue keeps staff employed and outlets open Conversions to annual full membership 2010 2 2015 21 2020 15
Key Financial Metrics: 185,698 $ 1,222 $ Summer Memberships Opportunities 152 Revenue Earned per Membership 5,735 152 Average Rounds per Membership (including 9-hole rounds) 38 185,698 $ 5,735 $ Average Revenue per Round (Dues + Cart Fees) 32
Summer Memberships Opportunities Conversions to Annual Membership 2020 2019 2018 2017 2016 2015 2014 2013 2012 2011 2010 2009 2008 Summer Golf 152 235 174 76 108 192 121 136 87 87 46 61 33 Summer T&F 54 25 17 15 26 26 22 25 16 21 12 8 1 Summer Dining 5 40 36 24 35 42 25 45 29 15 19 20 25 TOTAL 211 *covid-19 300 227 115 169 260 168 206 132 123 77 89 59 2020 2019 2018 2017 2016 2015 2014 2013 2012 2011 2010 2009 2008 Non-Residents 164 233 176 84 115 174 117 143 99 69 Existing Resident Non-Members 5 8 15 9 11 23 20 24 8 35 Existing Members Adding on 42 59 36 24 43 63 31 39 25 19 Returning from last year 100 147 97 62 79 94 86 68 56 33 New members 111 153 130 53 90 166 82 138 76 90 Conversions/Upgrades 2020 2019 2018 2017 2016 2015 2014 2013 2012 2011 2010 2009 2008 To Full or Jr. Exec 15 19 11 4 21 21 14 11 6 4 2 To Tennis or Twi Tennis 18 7 6 4 9 11 8 7 4 6 2 To Sports 2 4 2 2 3 4 1 3 1 1 5 To Social 3 11 9 2 12 13 8 13 11 7 7 Reverted Back to Previous Category 37 45 29 17 25 43 23 27 21 21 10 Did Not Convert 136 214 170 86 99 169 114 145 89 84 51 25% discount of all I.F.s 1/2 Price Full I.F. 1/2 Price Full I.F. 1/2 Price Full I.F. Special Offer to Convert
Summer Member Conversions vs. New Resident Membership Sales New Resident Membership Sales - 2020 Total 99 Less homes purchased by current members -15 Homes sold with new membership required 84 Social Resident Full Sports Tennis Memberships by category purchased 4 6 5 69 5% 7% 6% 82% % of Total Sold
Membership Opportunities Membership Categories & Access Getting Creative New Categories Changes to Current Categories Flexible Golf Only Sports Fitness Seasonal Tennis Racquet
Membership Opportunities Changes to Dues and Fees Food and Beverage Minimums Initiation Fees Capital Project Funding Dues
Capital Project Funding Determine annual requirement for capital fund production Explore options Increase Initiation Fees New bond sale Real Estate Transfer Fee Non-member revenue
New Amenities & Access More Outdoor Activity & Dining Space Additional meeting and function space Open to Women s Club events? Concierge Services Pickleball Currently played on clay courts Open to Full, Tennis, Sports or respective Trial members Who should have access if new courts are added Dog Park Location Upkeep
Next Steps Summarize input from Board of Supervisors Discuss input at upcoming meetings with Membership Action Plan Group Financial Analysis of ideas presented incorporating input from Supervisors and Membership Action Plan Group Consider & incorporate new plans and amenities in Master Plan Run trial budget calculations to test options 2ndpresentation to the Board for additional input - March Workshop Final steps recommend action steps to Board March Board Mtg. Update and amend Membership By-Law and Rules and Regulations
