RubinBrown Country Club Stats 2011

Executive Summary

Contents 1 Executive Summary 3 General Club &

Membership Information

4 Income Per Member 5 Operational Information 7 Golf Operations

10 Food & Beverage Operations 11 Personnel & Other Information 12 RubinBrown’s Hospitality & Gaming Services Group

RubinBrown is pleased to present our 2011 Country Club Statistical Analysis. Our survey results represent responses from 14 St. Louis metropolitan area clubs with fiscal year ends that ranged between September 30, 2010 and March 31, 2011. General Industry Economic Update In our previous edition of the survey covering St. Louis area clubs, we noted that clubs experienced an average net gain of one regular member, but with substantial work and effort to fill an average of 25 regular member resignations during the year. For years ending from September 2010 to March 2011, it appears that the same level of work and effort was needed as an average of 23 regular member resignations led to a net loss of one regular member during the year. It appears that social and other classifications of membership have taken the biggest hit this past year with an average net loss of seven social members during the year. Social and other membership classifications typically do not have as strong of a connection to clubs as regular members which has made it difficult to retain these members during the current economic state. Although the attrition has subsided from the peak in 2008-2009 (an average net loss of 14 regular members during that period), the membership base for most clubs continues to be below the levels necessary to maintain a “balanced budget” without continued cost reductions and reduction of headcount.

1 | Raise Your Expectations

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