While some clubs are suffering economic setbacks through lawsuits and foreclosure, other Eagle County clubs are figuring out how to add value to membership by boosting prices and enticing new members while satisfying current ones.
The private clubs in Eagle County, Colo., are, by and large, doing well from an economic standpoint. But some are suffering more than others, the Vail Daily reported.
The Cordillera Club in Edwards, Colo., is involved in two lawsuits, with members suing the club owners and the club owners suing the members right back. In the meantime, the club is operating, but only one of its four courses is open this year. The club also filed for bankruptcy this summer and forged an interim financing agreement with Alpine Bank to allow play for the rest of the season, the Vail Daily reported.
Brightwater Club in Gypsum once offered a year’s lease on a luxury SUV to anyone who bought a home lot there but the effort didn’t work. The club has gone through bankruptcy and went into foreclosure this year, then was purchased by EFO Financial Group, LLC for $1.6 million, the Vail Daily reported.
Industry analyst Casey Alexander said the U.S. golf industry has been losing about 65 18-hole courses a year since 2008, due to multiple reasons, such as the way people socialize and the increasingly high quality of public facilities, the Vail Daily reported.
Adam’s Rib Country Club southeast of Eagle has a couple dozen members, but Vice President of Real Estate Kevin Denton said the club is not struggling, as the land is paid for and neither the club nor course has any debt, the Vail Daily reported.
Eagle Springs near Wolcott opened in the mid-1990s and owner Fred Green said new members are often referred to the club by current members, adding that they “weathered the [economic] storm very successfully.”
Mitch Perry serves as the “membership ambassador” for the Country Club of the Rockies at Arrowhead and he said aggressive pricing has resulted in a waiting list for the club. The bottom line, he said, is being able to persuade existing and potential members about the value of belonging, the Vail Daily reported.