The Opportunity

Riverwood Golf Club in Port Charlotte, Florida is a semi-private golf club with a highly ranked as the 15th best course in Florida by Golf Week magazine and was acquired in February 2013. The Club flourished during the early 2000’s with growing membership, high initiation fees and good returns for ownership. As the economy changed and the membership grew older, the club experienced a downturn in active dues-paying members, worsening financial results, a growing resignation list and a daunting refundable membership obligation in the future.

The Vision

The investment group sponsors used their decades of experience operating and managing clubs to find innovative solutions to Riverwood’s problems. The investment group believed that employing a strategic business platform, while weighing member and guest needs, would lead to a successful return on investment for ownership. The following short-term plan was implemented at Riverwood immediately upon acquisition:

• Developed new membership options to drive stalled membership sales.
• Implemented membership deposit buyback and trade programs to reduce refundable membership obligation
• Worked in conjunction with membership to employ non-Interfering outside play program
• Implemented dynamic pricing model
• Conducted daily and hourly business analysis
• Employed effective on-line marketing trechniques
• Completed clubhouse refurbishment
• Created new product offerings in golf and F&B to enhance experience, meet member expectations and improve financial results
• Dramatically improved service levels through training and standards implementation

The Results

Riverwood Golf Club saw immediate financial improvements upon the restructuring of the membership offerings, dynamic pricing implementation and on-line marketing initiatives. The clubhouse refurbishment was met with overwhelming approval of the membership and guests. Outside play helped to support no dues increases and membership initiatives resulted in growth in dues paying members from 245 to 340 in one year and a significant reduction in the future membership deposit obligation.