market analysis report - the island golf club · 3 member survey report, october 2018 private and...

Market Analysis Report

GLOBAL GOLF ADVISORS EMEA Rob Hill, Partner Block 1, Newtown Business Park Newtown Mount Kennedy, Ireland globalgolfadvisors.com

The Island Golf Club Dublin, Ireland

October 2018

Member Survey Report

2

Member Survey Report, October 2018

PRIVATE AND CONFIDENTIAL

CONTENTS

I. SUMMARY OF FINDINGS ................................................................. 3

II. SURVEY AND STATISTICS ................................................................. 4

III. OVERALL COMMENTS .................................................................. 38

IV. RESTRICTIONS ................................................................................ 39

3



I. SUMMARY OF FINDINGS

The Island Golf Club (“IGC” or “the Club”) engaged Global Golf Advisors (“GGA”) to conduct a satisfaction survey as part of strategic planning work in order to provide in-depth feedback with respect to member satisfaction and Club relevance. The results of this survey are intended to help the Board and Management to measure performance, adjust strategy, define policy, and address the most pressing operational concerns facing The Island Golf Club. The key findings from the survey will be leveraged to assist in the creation of a forward-looking Strategic Plan for the Club.

GGA received 450 completed surveys from IGC members out of a sample size of 668, representing an overall response rate of 67% and a total membership response rate of 61%. Outlined below is a breakdown of the response rate by audience type:

Overall Response Rate

Sent Received Response Rate Online Surveys 661 443 67% Hardcopy Surveys 7 7 100% Total Survey Response Rate 668 450 67% Total Membership Response Rate 743 450 61%

This section provides a detailed question-by-question statistical breakdown, supplemented with brief discussions by GGA. Throughout the report the word “respondents” and “members” have been used interchangeably. ___________

The report herein contains the results of the survey on a question-by-question basis, covering all sections, questions, and comment fields presented to members in the The Island Golf Club 2018 Member Survey. The survey results are statistically valid to a 2.6% confidence interval at a 95% confidence level, which means the results to a specific question would not change more than +/- 2.6%, if every member had responded.

The report herein focuses on the overall response rate to each question and references detailed results broken down by age, gender, and member category for certain questions as appropriate. Please refer to the Appendix for detailed results to every question.

4



II. SURVEY AND STATISTICS Respondent Profile (Q1-4)

Average Age: 59 years Average Tenure: 23.8 years

2%7%

10%10%

17%18%

20%17%

0% 5% 10% 15% 20% 25%

Under age 25Age 25 to 34Age 35 to 42Age 43 to 50Age 51 to 58Age 59 to 66Age 67 to 74

Age 75 and older

6%

15%

12%

7%

24%

21%

15%

0% 5% 10% 15% 20% 25% 30%

Less than 3

3 to 9

9 to 14

14 to 19

19 to 29

29 to 39

Over 40

79%

21%

Male Female

0%0%0%1%1%1%2%3%3%4%

11%74%

0% 10% 20% 30% 40% 50% 60% 70% 80%

HonoraryLady Associate

Overseas LifeHonorary Life

ClubhouseTemporary

Outport5-Day

OverseasIntermediate

SeniorOrdinary

5



Q5. Golf Course Rounds Played

The weighted average amount of rounds played by the membership is 54 rounds per year. As expected, members aged 59 and over play the most golf per year at over 60 rounds per member.

Q6. Handicap

Nearly 50% of members at The Island Golf Club have a handicap between 10 and 18, while 20% maintain a handicap under 10.

11%10%

12%8%

12%8%

7%9%

5%7%

5%3%

4%

0% 2% 4% 6% 8% 10% 12% 14%

1 to 1011 to 2021 to 3031 to 4041 to 5051 to 6061 to 7071 to 8081 to 90

91 to 100101 to 110111 to 120

Over 120

1%

3%

16%

45%

25%

7%

2%

1%

0% 10% 20% 30% 40% 50%

0 or lower

1 to 4

5 to 9

10 to 18

19 to 28

28 to 35

36+

n/a

6



Q7. Spousal Membership

Only 20% of members have Spouses/Partners who are members at IGC. The percentage drops below 5% for members under the age of 50.

Q8a. Active golfing Spouse/Partner that is not a member (80% from Q7)

19% of members indicated that they have an active golfing spouse who is not a member at the Club.

20%

80%

Yes No

19%

81%

Yes No

7



Q8b. Reasons for Spouses not joining

The largest reasons for spouses not joining The Island Golf Club is due to being a member of another golf club and the cost of membership.

Q9. Employment Status

43% of members are employed fulltime, while another 43% are retired. Among female members, only 16% are employed full time.

4%

10%

18%

21%

28%

36%

0% 5% 10% 15% 20% 25% 30% 35% 40%

Lack of non-golf facilities and amenities

Lack of discounts offered to spouses of members

Not interested in a club membership

The cost to be a member

Other

Member of another local golf club

2%

3%

3%

6%

43%

43%

0% 10% 20% 30% 40% 50%

Student

Looking after home/family

Other

Employed Part-Time

Employed Full-Time

Retired from employment

8



Q10. What makes IGC Special?

94% of members feel that the Golf Course is a special element at The Island Golf Club, indicating that the golf Course is integral to the appeal of membership. Male members tended to favour the golf course while females favoured the social and nature aspects of the Club and friendships. New members were more likely to select location and reputation as special factors.

5%

28%

31%

32%

41%

59%

72%

94%

0% 10% 20% 30% 40% 50% 60% 70% 80% 90% 100%

Other (please specify):

Location

Reputation

Practice Facilities

Staff

Friendships

Natural beauty and environment

Golf Course

9



Q11. Mission Statement

Respondents feel that the Mission Statement should be focused around the primary asset of the club: The Golf Course (strongest average ranking and 76% support) and reinforcing a welcoming experience for members and visitors alike (73% support). Younger members favoured becoming a ‘premier golf facility’ and more prestigious. Older members prioritized being value driven, welcoming, unified and environmentally conscious.

76% 73% 57% 53% 51% 43% 35% 34% 33% 20%

1.76

3.46 3.55

2.91

4.11

5.69 5.77

2.84

4.92

6.09

0.00

1.00

2.00

3.00

4.00

5.00

6.00

7.00

0%

10%

20%

30%

40%

50%

60%

70%

80%

The golfcourse is ourprimary assetand is to bemaintained

and improvedto standards

consistent withthe world'sbest links

A Clubdedicated toproviding awelcoming

golfexperience forall its members

and visitors

Manage theClub's affairsaccording to

prudentfinancial

operatingstandards

An affordableand sought-

aftermembershipexperience,for which all

members paya fair annualsubscription

Consistent,courteous

serviceprovided bywell trained

staff

Caring for ourenvironment /Caring for the

localenvironment

A Club thatencourages

theconnectivity

andsocialisation of

its membersand guests

A membershipunified under

one Club

A Club whichembraces

families

Demonstrate acapability and

interest inhosting an Irish

OpenChampionship

Average Ranking

Ove

rall

Supp

ort

10



Q12. Do you agree with the concept that a Management Council sets policy and evaluates operating performance, Management operates the Club, and Committees are advisory only?

Almost 9 out of 10 members agree that The Club’s Council, Management, and Committees should fulfill the roles described above.

Q13. Do you believe the Club currently operates as described in the previous question?

Almost three quarters of members agree with the previous question and feel that the club operates as described.

86%

14%

Yes No

72%

28%

Yes No

11



Q14-15. Those who answered “No” to question 13 were asked the following questions:

*The percentages displayed above reflect how the percentage of overall respondents.

18%

20%

82%

80%

0% 10% 20% 30% 40% 50% 60% 70% 80% 90% 100%

15. Do you believe the Committees are operational?

14. Do you believe the Management Council isoperational?(The Council at times makes decisions affecting

day-to-day operations of the Club) Yes

No

12



Q16. Do you agree with the term of the Management Council members (currently one year)?

Just over half of the respondents indicated that they agree with the current term for Management Council Members.

Q17. Management Council Term (44% who indicated “No” to Q16)

Of the 44% of members who disagree with the current one-year term, the most popular answers for a new term for the Management Council are two years (43% support) or three years (52% support). When considering all options, the current one-year term is still the most popular.

56%

44%Yes No

43%

52%

4%Two years

Three years

Four years

13



Q18. Size of the Management Council

60% of members feel that the current membership council size of 13 is appropriate. Overall results did not vary significantly when filtering for subcategories; slightly less support from ‘Ordinary members’.

Q19. Size of the Management Council – Revised (40% who indicated “No” to Q18)

Of the 40% minority who disagree with the Management Council size, 84% feel that the council should have 9 or fewer members.

60%

40%

Yes No

47%

37%

13%3%

Less than 9 members

9 members

11 members

More than 13 members

14



Q20. Term of office for the Honorary Secretary of the Club

The key factor stopping a majority of Prospects (56%) from joining the club is the option to use the Club’s facilities on a “pay-for-use” basis. Lack of interest in the current amenity profile was the second most popular factor (32%), followed by factors that relate to annual and joining fees.

Nearly six-in-ten (58%) members feel that the Term for the Honorary Secretary of the Club should be two years, with three years being the next most popular term (24%).

Q21. Do you agree with the current number and makeup of the Honorary Officers?

67% of respondents feel that the current makeup of the Honorary Officers is appropriate.

16%

58%

24%

2%One year

Two years

Three years

More than threeyears

67%

33%

Yes No

15



Q22. Honorary Officer structure you believe to be best practice: (33% who indicated “No” to Q21)

Of the 33% minority who currently disagree with the current honorary officer structure, 53% feel that there should be 4 Honorary Officers. Other suggestions include a single unified Captain for Men’s and Ladies’ Clubs.

Q23. Do you believe rules are being adhered to on a consistent basis at the Club?

Three-quarters (76%) of members indicated that they feel rules are being enforced on a consistent basis. 74 members commented on the matter, with the following key themes emerging: Minimal repercussions for breaches (11 comments), Dress Code (10 comments), Not carrying divot fill (6 comments).

31%

53%

16%The current number less the Men'sand Ladies' Clubs HonorarySecretaries.

Four Honorary Officers being theHonorary Secretary, HonoraryTreasurer, Captain and LadyCaptain.

Other, please specify:

76%

24%

Yes No

16



Q24. Do you believe that volunteers are effective at enforcing the code of conduct?

Nearly two thirds (65%) of respondents feel that volunteers are effectively enforcing the Club’s code of conduct.

Q25. Should The Island Golf Club amalgamate the Men’s and Ladies’ Clubs and operate as one Club with the golf program managed by the Captains’ Committees under the ultimate authority of the Management Council?

Nearly three quarters of respondents are in favor of amalgamating the current structure into one unified Club. Overall, results did not vary significantly when filtering for subcategories within the membership.

65%

35%

Yes No

74%

26%

Yes No

17



Q26. Do you believe the Council Bye Laws and Club Rules are followed?

More than 8 out of 10 respondents agree that the current Bye Laws and Club rules are being adhered to.

Q27. Do you believe these Bye Laws and Club Rules are well known and understood within the Club?

Although the membership feels these Bye Laws and Club Rules are being followed, more than three quarters of respondents feel that they are not well known or understood within the Club.

81%

19%

Yes No

24%

76%

Yes No

18



Q28. Do you support a change in the General Manager’s reporting structure?

The Vast majority of members (87%) agree that the General Managers reporting structure should be aligned with the best practice from across the industry. This indicates a Strong support for a shift towards a greater operational mandate for the General Manager; especially among younger/newer members.

Q29. Council Ratings

Trust in the Council and Council performance ratings are below the industry benchmark (3.7 to 4.1). Members are especially concerned with transparency and responsiveness. Younger members tended to rate their trust lower compared to older members.

87%

13%

Yes No

3.11

3.2

3.52

3.53

3.63

1 2 3 4 5

Transparency with members

Responsiveness to member requests

Enforcement of Club policies

Overall trust in the council

Management of Club finances

19



Q30. Access to the Tee

As expected, members have the most difficulty accessing the tee on Weekends and Holidays in the morning. A 3.26 average rating out of 5.00 is well below the industry benchmark range of 3.6 to 4.1. It will be important for the Club to monitor access and implement strategies to smooth out tee time demand during this peak time slot. Access ratings were particular low among young members / Intermediate members.

Q31. Pro Shop Ratings

Overall, the Pro Shop received a strong overall rating of 4.24 out of 5.00, within the benchmark range of 4.0 to 4.4. Staff ratings are particularly strong, while Pricing (value) and Caddies are the two areas with the greatest opportunity for improvement.

3.26

3.56

3.7

3.85

1 2 3 4 5

Weekends and Holidays a.m.

Weekends and Holidays p.m.

Weekdays a.m.

Weekdays p.m.

3.67

3.73

3.75

3.86

4.06

4.11

4.24

4.3

4.72

1 2 3 4 5

Pricing (value)

Caddies

Merchandise selection

Condition (furnishings)

Golf instruction

Hire equipment

Overall Pro Shop operation

Check-In/Arrival

Pro Shop Staff

20



Q32. Golf Course Ratings

Overall, the golf course received a strong overall rating of 4.10 out of 5.00, which is within benchmark range of 3.9 to 4.3. However, several individual areas present themselves as an opportunity for improvement, including: Bunkers, Rough, Pathways and Signage across the cross.

Q33. Practice Facility Ratings

The Practice Facilities at the club received an overall rating of 3.92 out of 5.00, which is within the benchmark range of 3.8 to 4.2. Younger members tended to more critical of all facets of the practice facilities.

3.3

3.33

3.34

3.53

3.72

3.87

3.95

4.06

4.07

4.1

1 2 3 4 5

Pathways

Signage and markings (i.e. hazard lines)

Bunkers

Rough

Fairways

General Presentation Standards

Tees

Course maintenance staff

Greens

Overall course

3.73

3.8

3.92

3.96

1 2 3 4 5

Short game practice area

Driving Range

Overall Practice Facilities

Putting practice area

21



Q34. Do you believe the Club has a pace of play problem?

More than half of members at the Club feel that there is a pace of play problem. Concern was stronger among more tenured members, who likely compare current pace of play to their past experiences at the Club when it pace of play was quicker.

Q35. Please assess the level of difficulty of the golf course

When asked to evaluate the golf course level of difficulty between ‘1’ (Too easy) and ‘10’ (Too difficult), members feel that the golf course is a 7.2 out of 10, which indicates a slight skew towards ‘too difficult’. When filtering for subcategories, there was not a significant variance evident between gender, age, etc.

55%

45%Yes No

7.21

0 2 4 6 8 10

22



Q36. One of the most contentious issues at the club, consistently raised by members at focus groups, related to design changes proposed in the masterplan for the golf course developed by McKenzie Ebert. In particular, issues relating to health and safety on the 8th tee, the quality of some holes on the front 9, and a desire to introduce the currently unused par 3 into play. To facilitate a way forward for the club on these topics, please indicate which of the following statements you agree with and to what extent:

Overall, there does not appear to be a clear preference in the membership agreement with any of the statements listed above. The most supported options are to follow through with the changes proposed in the masterplan (45% agree or strongly agree) and to protect the integrity of the current design (44% agree or strongly agree). None of the proposed options received greater than 50% agreement in total. Older members had a stronger preference to protect the integrity of design; they are less inclined to support the proposed master plan changes.

43%

32%

24%

20%

20%

15%

18%

16%

12%

14%

25%

25%

27%

24%

22%

8%

15%

17%

19%

20%

9%

10%

16%

25%

25%

0% 10% 20% 30% 40% 50% 60% 70% 80% 90% 100%

I am undecided or have no view on this topic

I do not feel sufficiently informed

I am open to design change but do not have confidence in those proposed inthe masterplan and would prefer other options were considered

My preference is to protect the integrity of the current design

I support the changes proposed in the current masterplan

Strongly Disagree Disagree Nuetral Agree Strongly Agree

23



37. Do you believe the Club has:

Overall, members appear to be satisfied with the number of member competitions. The largest opposition group is 15% of members who feel that there are too many member competitions.

38. Do you believe the Club has:

The Club should continually monitor its members preferences for competitions and align its offering. Currently members are trending towards less Fourball and more Open/9-Hole competitions. New members and young members are more inclined to believe there are too many fourball events at the Club.

77%

15%

8% Just the right number ofmember competitions

Too many membercompetitions

Too few membercompetitions

29%

21%

14%

8%

7%

13%

27%

30%

45%

43%

58%

53%

55%

47%

49%

0% 10% 20% 30% 40% 50% 60% 70% 80% 90% 100%

Fourball Competitions

Single Competitions

Mixed Competitions

9-hole Competitions

Open Competitions

Too many Too few Just right

24



Q39. Please evaluate the Men's/Women's locker rooms

Overall, Locker Room satisfaction is an area that could be improved, with an overall rating of 3.11 out of 5.00 that falls below the benchmark range of 3.8 to 4.2. Specifically, Accessibility/Space within the Locker Rooms. Women locker room ratings were slightly higher across the board, with the exception of Accessibility/Space.

Q40. Food and Beverage Ratings

Food and Beverage operation ratings, often a highly scrutinized department in private clubs, received low ratings from respondents and is a clear opportunity to improve member satisfaction. The Club’s current overall rating falls below the benchmark range of 3.7 to 4.1.

2.96

3.06

3.11

3.43

3.56

1 2 3 4 5

Accessibility/Space

Condition (furnishings and fixtures)

Overall Locker Room operation

Washrooms

Cleanliness

2.92

3.14

3.28

3.35

3.37

3.46

3.54

3.67

3.77

1 2 3 4 5

Interior Décor

Menu selection

Food quality

Atmosphere

Overall food and beverage operation

Value for money

Hours of operation

Alcohol selection

Service

25



Q41. If you dine infrequently at the Club, what are the typical reasons for not using the facilities?

The most commonly cited reason for members that dine infrequently was the remoteness of the Club (60%) followed by food quality (42%). Other reasons members cited can be summarized into the following top themes: Time Restraints, Dietary Restrictions and Non-family friendly experience.

Q42. Overall Satisfaction

Members rated their overall satisfaction at IGC at an average of 8 out of 10, which is within the 7.8 to 8.6 benchmark range for similar clubs. Overall satisfaction is highest among older members and lower among 5-day and Intermediate members.

9%

11%

15%

16%

17%

20%

28%

42%

60%

0% 10% 20% 30% 40% 50% 60% 70%

Dress code

Quality of service

Value for money

Interior decor

Other (please explain):

Lack of a view

Menu selection

Quality of food

Inconvenience/Remoteness of Club

8

0 1 2 3 4 5 6 7 8 9 10

26



Q43a. Is the Club meeting your expectations on an overall basis?

Almost 9 in 10 members (87%) indicated that the Club is meeting their expectations on an overall basis, which is within the benchmark range of 83% to 92%. Similar to Q42, older members were more likely to have their expectations met and 5-day and INT members were less likely.

Q43b. Reason(s) why the Club is not meeting your expectations (13% who indicated ‘No’ in part a)

The Food and Beverage / Clubhouse experience are key drivers for members expectations not being met. Other reasons mentioned in the comments include Pace of Play and the Dress Code.

87%

13%

Yes No

9%

25%

38%

38%

43%

51%

51%

0% 10% 20% 30% 40% 50% 60%

Pro Shop not meeting expectations

Value for money not meeting expectations

Golf course not meeting expectations

Social experience not meeting expectations

Other

Clubhouse not meeting expectations

Food and beverage not meetingexpectations

27



Q44a. Would you recommend the Club to your friends and associates as a Club they should join?

94% of the members would be willing to recommend the club, which is at the high end of the 85% to 94% benchmark range. This result is a favorable indicator that the Club can count on members to promote IGC and help with future member recruitment.

Q44b. Reason(s) why you would not recommend the Club (6% who would not recommend the Club):

Of the 6% minority who would not recommend the Club at this time, the most commonly cited reasons are the Social experience at the Club and the cost to be a member.

94%

6%

Yes No

0%

17%

29%

33%

50%

63%

0% 10% 20% 30% 40% 50% 60% 70%

Golf experience

Location

Other (please specify below):

Food and Beverage experience

Cost to be a member

Social experience

28



Q45. When you joined the Club, what were the deciding factors in joining the Club?

The top three joining factors at the Club are the ‘golf course’ (81%), ‘quality of the club and reputation’ (59%) and ‘members you knew’ (54%). Interesting to note that among new members (less than three years), ‘members you knew’ was a joining factor for just 29% of this group.

Q46. Do you feel that the Club communicates with you effectively?

Overall, 84% members feel that the club communicates effectively, which is at the low end of the benchmark range of 84% to 93% Communication ratings are slightly lower amongst younger members.

4%

8%

9%

9%

30%

54%

59%

81%

0% 10% 20% 30% 40% 50% 60% 70% 80% 90%

Family fun

Other (please specify below):

Socialisation

Discounted Entry Fee

Location

Members you knew

Quality of the Club and its reputation

Golf course

84%

16%

Yes No

29



Q47. Please rate how Management and The Council communicate with the membership on the following areas:

With the exception of ‘Golf Course Maintenance’ communication, all other departments should be considered opportunity areas for improvement. The Club should evaluate the member frequency preference for communication in the following question (Q48) to help design a communication strategy that best fits member preferences. The Benchmark range for departmental communication varies from 3.7 to 4.2 and the majority of departments at The Island fall below this range.

2.84

3.16

3.26

3.45

3.47

4.01

1 2 3 4

Food and Beverage

Council

Management and Administration

Pro Shop

Mens' Club / Ladies Club

Golf Course Maintenance

30



Q48. Which of the following communication methods and at what frequency would you prefer to access information about Upcoming Events, News and other information from Management and the Board?

The chart above illustrates the membership’s preferences for communication from the club. An understanding of the proper communication channel frequencies can help IGC improve satisfaction with member communication. Notably, there is a large desire for weekly General E Blasts and monthly E-mailed Newsletters. Social Media is not a viable option to reach all of the membership however it has been shown to drive higher engagement with younger demographics.

69%

40%

30%

22%

24%

20%

10%

25%

37%

43%

30%

30%

10%

17%

9%

14%

10%

8%

9%

18%

19%

17%

13%

17%

5%

4%

22%

25%

0% 10% 20% 30% 40% 50% 60% 70% 80% 90% 100%

Member Newsletter

General E-mail

Website's member homepage

Notice boards around the Club

Social Media

Messenger App

Monthly Weekly Bi-weekly Periodically Never

31



Q49. Please indicate the membership size that you prefer for the Club:

The majority of members (68%) are satisfied with the status quo membership size. 24% of members would be in favor of expanding the membership to drive down annual subscriptions.

Q50. Do you believe the current tee time system and access privileges are fair and that all members, based upon

membership category, are treated appropriately?

The vast majority of members are satisfied with the current tee time system and its restrictions. Younger members are less inclined to believe access privileges are fair, however, they are still significantly in the minority.

24%

68%

8% More members payinglower annual subscriptions

Status quo

Less members paying higherannual subscriptions

83%

17%

Yes No

32



Q51. Please indicate your opinion on the level of visitor play that the Club should allow:

More than 7 in 10 members (73%) feel that the current level of visitor play is appropriate. The remainder of members are split nearly equally between more and less visitor play.

Q52. Do you believe it is important for the Club to make an effort to attract more younger members to help replenish the

membership pipeline at the Club?

The membership at large (96%) recognize the importance of attracting younger members to the Club and building a strong membership pipeline.

15%

73%

12% Allow more visitor play in aneffort to keep subscriptionlevels down

Maintain the current level ofplay

Allow less visitor play topromote more a 'private' clubatmosphere

96%

4%

Yes No

33



Q53. Which of the following incentive strategies are you in favor of? (96% who indicated ‘Yes’ in previous question)

The most popular incentive program for attracting younger members, and the only one to reach majority support from respondents is a Legacy program. Discounted entrance fee rates based on age was the second most supported option at 44%.

33%

38%

38%

44%

65%

0% 10% 20% 30% 40% 50% 60% 70%

A 'pay for use' membership - Individuals up toage 40 would pay an entrance fee over multipleyears (based on age), annual subscription wouldbe reduced, and there would be a discounted

green fee for each round of golf played.

Discounted annual subscription rates based onage range.

Deferred entrance fee with credit - Entrance feeis deferred until age 40 and the member earns a

credit (typically 5-10% discount) off of theentrance fee for each year they are a member

prior to reaching age 40.

Discounted entrance fee rates based on agerange.

Legacy program - Allow children orgrandchildren of current members to join theClub at a discounted entrance fee (typically

50% off or greater).

34



Q54-56. New Membership Category Preferences

The results indicate majority support for each of the proposed new membership initiatives. Younger members tended to more supportive of the Family membership and Senior legacy transfer membership but less supportive of focusing more on growing female membership.

72%

58%

74%

28%

42%

26%

0% 10% 20% 30% 40% 50% 60% 70% 80% 90% 100%

Q56 - Family Membership

Q55 - Senior transfer membership

Q54 - Attract more women?

Yes No

35



Q57. Capital Projects

The most popular capital project by support level is the renovation to the dining and bar areas (68%), however the highest ranked project is the Implementation of the Golf Course Masterplan. New members and young members displayed higher level of support for dining and bar area as well as implementing the master plan changes. All projects above 50% support stem from the clubhouse / dining experience which needs to be addressed.

Projects below 20% supports have been excluded from this analysis.

68% 51% 41% 41% 40% 38% 31% 26% 24%

2.41

2.81

1.9

4.04

3.493.35

2.9

3.75

2.77

0

0.5

1

1.5

2

2.5

3

3.5

4

4.5

0%

10%

20%

30%

40%

50%

60%

70%

80%

Renovations tothe dining and

bar areas

Reconfigurationof Clubhouse

Implementationof the Golf

CourseMasterplan

PurchaseFreehold Title of

Lands from FingalCounty Council

Refurbishment oflocker rooms and

facilities

Introduction of ashort course

and/or puttingcourse

Netting betweenthe 8th tee andpractice area

Relocation ofDriving Range

Full Clubhouserenovation

Average RankingO

vera

ll Su

ppor

t

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Q58. Do you believe the current entrance fee is:

Half of respondents (49%) feel that the current entrance fee is too high indicating a high degree of price sensitivity within the membership. Young members were more inclined to indicate that the entrance fee is just right while older members feel it’s too high.

Q59. Do you believe the amount you currently pay in annual subscriptions (including development levy) is:

Almost three quarters of respondents feel that annual subscription rates are just right. Young members indicated that the annual subscriptions are too high while older members are less likely to feel the annual subscription is too high. The benchmark range for % of members that are satisfied with current dues (“Just Right” + “Too Low”) is 64-78%. The Island membership falls within this benchmark.

49%

5%

46%

Too high

Too low

Just right

25%

4%

72%

Too high

Too low

Just right

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Q60. Based on current subscription levels, how much more would you be willing to pay annually in order to fund future capital/operational improvements?

The weighted average of additional annual contributions to capital/operational improvements is between a conservative calculation of €69.50 and an aggressive calculation of €102.50 per year. New members are far more willing to pay more annually to fund capital improvements.

Q61. What do you believe to be acceptable methods of financing the larger capital projects:

The most popular method of funding larger capital projects is a combination of sources (57%). The most popular singular source is Debt (16% support). Young members want a ‘combo’ funding preference and are far less inclined to want increased visitor play.

33% 7% 22% 12% 13% 6% 6%0%

5%

10%

15%

20%

25%

30%

35%

0 0-50 50-100 100-150 150-200 200-250 250+

6%

9%

12%

16%

57%

0% 10% 20% 30% 40% 50% 60%

Entrance fees

Increased visitor play

Development levy

Debt (principal and interestserviced from annual…

Combination of the abovesources

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III. OVERALL COMMENTS

• GGA received 141 Overall comments from members who completed the survey. They are best summarized into the following themes:

• Masterplan Changes (20 comments) – Members have again voiced their (split opinions) about the implementation of the masterplan.

• Clubhouse (20 Comments) – Members were vocal about their desires for improvements to the operation profile, look, feel, and furnishing of the current clubhouse. Members feel that the current clubhouse does not fit the standard that the club’s reputation and golf course has established.

• Annual Subscriptions (15 Comments) – Some members feel that the current level of annual subscriptions they pay are not providing them the value that they used to receive from the Club.

• Visitor Play (14 comments) – Some members feel that the level of visitor play is impacting their access to the tee and negatively impacting the member golf experience at the Club.

• Development Committee (8 Comments) – Members feel that the current development committee needs to be reevaluated and possibly repurposed to better fit the Club’s current needs.

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IV. RESTRICTIONS This report is strictly intended for use by The Island Golf Club. It is not to be reproduced or used for any other purpose other than outlined above without our prior written permission in each specific instance. GGA assumes no responsibility or liability for losses occasioned to the directors or shareholders, or to any other parties as a result of the circulation, publication, reproduction or use of this report and analysis contrary to the provisions of this paragraph. GGA reserves the right (but will be under no obligation) to review all calculations included or referred to in this report and, if we consider it necessary, to revise our conclusions in light of any information existing at the report and valuation date which become known to GGA after the date of this report. GGA instructs that its analysis must be considered as a whole and that selecting portions of the analysis or the factors considered by us, without considering all factors and analyses together, could create a misleading view. Any attempt to do so could lead to undue emphasis on any particular factor or analysis. Global Golf Advisors EMEA Ltd.

market analysis report - the island golf club · 3 member survey report, october 2018 private and...

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