My club may be interested in partnering with ClubCorp – what does this process look like?
The process seems to differ from club to club. Generally, it begins with an initial telephone call or site visit from Tom Bennison, SVP Business Development, followed by the execution of a confidentiality agreement and review of proprietary membership and financial information by the Home Office and Regional Team. Within a few days following receipt of this information, we are able to verbalize the turnaround vision for your club, which includes payoff of the debt, a commitment to invest significant capital for reinvention, elimination of future capital assessments and the introduction of O.N.E., the most revolutionary membership product in the industry. Understanding the highly sensitive nature of these conversations, this stage of the process can take place behind the scenes without alarming members or staff.
If there's general agreement to proceed, the terms of a letter of intent are negotiated, Town Hall Member meetings and focus groups are scheduled and due diligence commences.
What distinguishes ClubCorp from other private club owner / operators?
We have a long and distinguished track record of owning and operating private clubs that dates back to the 1960’s. We pioneered the business of professional private club ownership and management, and we’re in it for the long haul – as opposed to other owners who may enter and exit the market depending on economic conditions. Our deep experience in the space11 coupled with a strong balance sheet with considerable liquidity provide unmatched stability for the clubs in our portfolio.
Will the culture of our club change?
No. We build upon the culture of the clubs we partner with by embracing the traditions, people and experience that make the club unique.
If my club is acquired by ClubCorp, will member assessments go away?
Yes. Member assessments are eliminated in perpetuity.
If my club is acquired by ClubCorp, how can members be assured our voices will still be heard?
A cornerstone of the ClubCorp success story has been the working relationship we establish with our Advisory Board of Governors and numerous member committees. Boards generally meet monthly and provide valuable strategic direction with respect to how their club is operated. Generally, this structure allows the Board and the club’s members to focus on areas that impact the member experience as opposed to club governance.
What happens to an equity or refundable membership deposit in the event of a partnership with ClubCorp?
It depends. In some cases, the purchase price provides funds for distribution of net proceeds to members or a refund of all or a portion of the deposit. In other cases, there is "no equity" and thus no distribution. In either case, ClubCorp retires the club's debt and commits to make a significant investment in capital improvements.
What happens to club employees?
Since 2010, 90% of department heads have come across in an acquisition. We generally offer employment to ALL non-department heads who can pass a background check and E-Verify.
Will reciprocal access from members at other ClubCorp properties negatively impact the member experience?
No. In many markets, we operate clubs with significant initiation fees in close proximity to entry-level clubs. We have a robust brand segmentation process in place designed to limit in-bound access and maintain the integrity of your membership.