Dear Members and Guests,
Having now visited more than 130 of our clubs, I’m often asked “how are we doing?” Fortunately, we (ClubCorp) are doing great, thank you. In spite of a challenging economic environment, we managed to set a new 50-year record for capital dollars spent on improvements in 2007. This, of course, means our lenders and equity partners are happy, as are our Members and Employee Partners as they see money being reinvested in their clubs.
For 2008, we plan to reinvest yet another $70 million in club capital, much of which will go toward fitness, wellness, and family focused initiatives. In addition, you may have already noticed our new short-course setup at all our golf and country clubs to help speed up play, as well as make it easier for beginners (and experienced players) to improve their short games. Take-out dining should now be available at all our business and sports clubs, plus many of our golf and country clubs. New dining concepts also are being rolled out and we’ve pledged to continue providing free lessons in our ongoing effort to improve Member value. Finally, as you read this, our new ClubCorp Web portal and redesigned individual club Web sites are being prepared for launch (you can read more about this in the next issue of Private Clubs). All of this helps us move firmly into the 21st century.
Yes, 2007 was a momentous 50th year for “The World Leader in Private Clubs,” and we remain excited about our prospects for 2008 and beyond. As always, Members first. Please let us know how we may improve our service to you.
With a fond farewell,
Eric Affeldt
President and CEO
ClubCorp
Photography by Lisa Means.