RubinBrown Country Club Stats 2010

Executive Summary

Contents 1 Executive Summary 5 General Club &

Membership Information

6 Income Per Member 7 Operational Information 8 Golf Operations

10 Food & Beverage Operations 11 Personnel & Other Information 13 RubinBrown’s Hospitality & Gaming Services Group

RubinBrown is pleased to present our 2010 Country Club Statistical Analysis. Our survey results represent responses from 16 St. Louis metropolitan area clubs with fiscal year ends that ranged between September 30, 2009 and March 31, 2010. General Industry Economic Update In our previous edition of the survey covering St. Louis area clubs’ we noted that generally, clubs experienced an average decline in total membership from September 2008 through June 2009 of approximately 5 percent (this was an average net loss of 14 regular members during that period). Membership losses appear to have stabilized by the end of 2009. For years ending from September 2009 to March 2010, the clubs participating in our survey indicated a net gain of one regular member, but with substantial work and effort to fill an average of 25 regular member resignations during the year. Although the attrition has subsided, the membership base for most clubs is below the levels necessary to maintain a “balanced budget” without continued cost reductions and reduction of headcount. Clubs continue to aggressively battle to increase membership at all levels and increase utilization in all areas by the members and guests. Dues rates increased by an average of 2.5 percent and were often accompanied by an operating assessment to fund deficits incurred during the past year (8 clubs levied operating assessments to the membership).

1 | Raise Your Expectations