Growing Membership and Varying Activities Top the List of Club Concerns
Growing membership and varying activities are two concerns topping the list of trends clubs on which clubs are focusing, according to data included in the latest of Clubs in Town & Country. A management and operational aid for private clubs, Clubs in Town & Country is the country’s most respected annual statistical review and trend analysis of the club industry.
PBMares, LLP, a top 100 accounting firm serving private country and city clubs nationally, produces the annual publication from data submitted by more than 800 clubs through Club Benchmarking, which uses a data-sharing platform to deliver comparative analysis of key performance indicators to help clubs with financial and operational management projections.
“Clubs of all sizes and in all regions are facing similar issues and trends,” said Kevin Reilly, JD, CPA, CGMA, a PBMares partner who has led the Firm’s Club Services Team for more than 20 years. “The differences start to show when you take a look at spending per member and the age of the typical member,” Reilly continued. R. Todd Swisher, CPA, a PBMares partner and leader of the Firm’s Hospitality Team adds, “Clubs are responding to pressures such as the country’s changing demographic. As a result, they are becoming more family-friendly and expanding their offerings and facilities to attract younger members.”
Additional highlights of Clubs in Town & Country include:
- Total country club revenue increased 68% from 1999 to 2018
- Total city club revenue per member increased 73% from 1999 to 2018
- Golf course expenses were 5% higher than 2017
- Clubs should implement a cybersecurity risk plan