Annual Report 2017-2018

MEMBERSHIP As the Club worked to develop and execute new and improved programs and activities to drive visitation, membership remained buoyant even as redevelopment work saw the temporary closure of several outlets and spaces. New Member intake

• The ExtraOrdinary membership promotion ran during the thick of redevelopment from July to December 2017, offering new Members $6,000 in Club credits. The program was a resounding success, with 77 new Ordinary and 3 Service Members joining during this period. • Pathway membership, a new one-year restricted membership category for Americans and Canadians, was also created in early 2017. The Club welcomed a total of 96 Ordinary and 8 Service Members under this program, which offers a membership option for those who will be staying in Singapore for shorter postings. • The last fiscal year also saw 45 new TermMembers (non-Americans, non-Canadians and non-Singaporeans) joining our community. Term to Associate Membership upgrade • The upgrade program for a select number of Term Members was offered for a limited period to acknowledge the commitment of these long-term Members to our Club community, and to thank them for supporting the Club during the redevelopment period. 67 Term Members were upgraded from Term to Lifetime membership. Open market transfers • The Club achieved a new record in open market transfers, with a total of 22 transfers processed and a new transfer price high of $150.5K; +77% above the open market transfer price in 2016 when the construction first began. These initiatives kept Member numbers and utilization at healthy levels. The closing membership level for FY18 was 3,325, +11 to the previous year’s membership level, +9.7% ahead of budget and +32.2% compared to the redevelopment financial model projection. Entrance fee income totaled $4.13M, +72.5% above the budget of $2.39M and +$4.13M compared to the financial model projection.

10 2017/18 ANNUAL REPORT