2017-18 TRENDS IN PRIVATE CLUBS - RSM US

PRIVATE CLUBS

2021-22 TRENDS IN PRIVATE CLUBS

RSM is proud to be an Education Partner of the

Club Management Association of America (CMAA)

Boca Woods Country Club, Boca Raton, Fla.

2021-22 TRENDS IN PRIVATE CLUBS

RSM private club services

It¡¯s amazing how on your game your club¡¯s business can be

when you are served by people who understand you.

RSM is proud to be an Education Partner of the Club

Management Association of America (CMAA)

At RSM, we fully understand our private club clients and

provide the insights they need to make critical business

decisions in a volatile and uncertain environment. We supply

strategic guidance, optimism and confidence to help more

than 300 private clubs control costs, comply with regulatory

requirements and provide excellent member benefits. Our

services include:

? Audit

? Tax

? Consulting

-

Performance improvement

Benchmarking

Amenity pricing

Turnover consulting

Fraud and forensics

Information technology (IT) security and controls

Seminars for boards and management

Construction contract audits

Visit us online to learn more about our services to the private

club industry, and access our resource center for insight on

contemporary issues that matter to you.

privateclubs

For more information about this report or any questions

on RSM services please contact one of our private club

industry team leaders listed below:

Editors

Philip Newman, philip.newman@

Tammy Tassitano, tammy.tassitano@

Private Club Thought Leadership Center

5551 Ridgewood Drive, Suite 401

Naples, FL 34108

Contributors

Frank Lucas, Frank.lucas@

Ryan McAndrew, Ryan.mcandrew@

Vanya Stefanov, Vanya.stefanov@

Syma Molla-Ahmad, Syma.Molla-Ahmad@

Carly Pepple, Carly.Pepple@

Chris Cecil, Christopher.Cecil@

Jackie Sullivan, Jackie.Sullivan@

eClubNews is a bimonthly electronic newsletter that provides

timely information and insights for the private club industry.

Contact a local client service representative to subscribe, or

visit us online at privateclubs.

You are also invited to join the conversation on RSM Club

World¡ªan online discussion group hosted on Linkedin.

2

2021-22 Trends in Private Clubs

*Cover image:

BallenIsles Country Club,

Palm Beach Gardens, Fla.

PREFACE

COVID-19 AND PRIVATE CLUBS¡ª

THE FACTS

Welcome to our 2021-22 report. We compiled the information

from our audits of more than 200 clubs with year-ends through

Dec. 31, 2020. We hope the story told by this data is never to be

repeated; however, the results achieved by the clubs we work

with are a testament to the fortitude, skill and hard work of

leadership, management and staff.

A few things to note as you review the report:

? All government support has been removed from

?

?

operating data presented in the main section of the

report since not all clubs were deemed equal in the eyes

of Uncle Sam, in terms of the various fiscal aid programs

offered.

The COVID-19 impact section allows the reader

to identify what happened, by region, and as clubs

responded to the pandemic in 2020. Given the timing

of various government shut downs, and re-openings,

this section displays certain key operating data by fiscal

quarter.

As in prior years, the report also includes key

information based on a club¡¯s revenue levels.

Comments and questions on this publication and any aspect of

club financial management are welcome.

Thank you to our professionals for their continued dedication to

this industry, and thank you to the hundreds of clubs served by

RSM for their continued support and allowing our firm to have a

role in their mission to create a meaningful experience for their

members.

Hammock Dunes Club, Palm Coast, Fla.

2021-22 Trends in Private Clubs

3

Pelican's Nest Golf Club at Pelican Landing, Bonita Springs, Fla.

Bear's Paw Country Club, Naples, Fla.

4

2021-22 Trends in Private Clubs

TABLE OF CONTENTS

Preface

3

Table of contents

5

Executive summary highlights

6

Nontraditional data can give club budgeting an edge

7

Trends from the balance sheet

8

Final regulations released on seperately computing unrelated business income tax

19

Food and beverage

28

Golf update

39

Trends by revenue

48

The COVID-19 impact

50

Experience the power of being understood?

57

RSM Classic

59

2021-22 Trends in Private Clubs

5

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