Tag Archives: clubs

Impact of COVID-19 Shutdown on Club Dues

Most golf and social clubs have either shut down or curtailed operations in response to the Coronavirus Disease 2019 (COVID-19) crisis.  Some members are requesting dues abatement or reductions.  We have been in communication with representatives of 29 clubs regarding whether they have abated or reduced dues or offered some type of financial accommodation.  As … Continue Reading

Club Membership Deposits in Bankruptcy

As noted in our “Club Membership Deposits — From Gold to Paper” posted on August 4, 2011,  many membership deposit clubs have resorted to bankruptcy to restructure their membership deposit debt liability.  Below are descriptions of how the membership deposits have been restructured in four bankruptcies. Dominion Club. Members will receive in full satisfaction of their membership deposit … Continue Reading

Rethinking the Membership Sell List

How does a club with refundable memberships avoid (in the case of a new club) or deal with (in the case of an existing club) the problem of having to pay a resigned member more than what a new member pays when the membership is reissued?  This problem can arise when the membership price falls … Continue Reading

Equity vs. Non-Equity Club Dynamics

How will the Great Recession and changing club market conditions change a developer’s decision about whether to structure a club as an equity (i.e., nonprofit member-owned) club vs. a non-equity (for profit) club?  The traditional view held that developers favor the equity club structure for high-end communities and the non-equity structure for more affordable housing communities, based … Continue Reading

Lowering Membership Price Without Lowering Membership Price

The market price for club memberships has fallen in almost all markets.  Many clubs are reluctant to reduce their membership prices, because either it sends a negative message about the club’s financial condition or adversely impacts the economics for membership resales. Clubs can implement creative programs to increase membership sales in this marketplace, without officially … Continue Reading